Taiwan Glass downgraded to "equal weight"

Date: 14 October 2005
Source: Newratings.com

Date: 14 October 2005

Analysts at Morgan Stanley downgrade Taiwan Glass Corp (ticker: 1802.TW) from "overweight" to "equal weight," while reducing their estimates for the company.

The target price has been revised to NT$26.70.

In a research note published this morning, the analysts mention that the decline in the price of E-glass fabric has been higher-than-expected in the recent past. Taiwan Glass lacks a catalyst for earnings growth in the absence of a sustainable recovery in the prices of E-glass fabric, Morgan Stanley adds. The earnings growth estimates for 2005 and 2006 have been reduced from 8.8% y/y to -13.2% y/y and from 8.1% y/y to flat, respectively.
600450 Taiwan Glass downgraded to "equal weight" glassonweb.com

See more news about:

Others also read

MORE...

Emirates Glass wins major supply contract for Palm Jumeirah
Emirates Glass, a Dubai Investment subsidiary, has won a major contract to supply 140,000 square meters of its premium glass to the prestigious development on the Palm Jumeirah, reaffirming its already established reputation as the single most prominent company in the entire regional glass industry.The deal was announced during the company's participation in the prestigious Big 5 show, the largest annual venue for the entire Middle-East glass contracting industry.
ISRA Receives Major Display Glass Inspection Order
Isra Vision Systems AG supplier of machine vision systems, has successfully improved its market position in display glass inspection with a major order totalling 1.8 Mio Euro.
Rexam, buyout firms to bid for Calmar-sources
Packagers such as the UK's Rexam and private equity firms are set to vie for pump-sprayer business Calmar, which France's Saint-Gobain (SGOB.
China glass import a cheaper option for Amritsar firm
Jain Scientific Glass Works, manufacturers of glassware for laboratories, is importing glass as raw material from China, which was much cheaper than the local product and abundantly available.
Company to close lime plant in Carey next month
The National Lime & Stone Co. will discontinue production of calcined lime early next month at its Carey plant, the company CEO announced Thursday.
Asahi Glass, Oracle, TDK, Seven & I: Japanese Equity Movers
The following stocks are moving in Japanese markets today. Prices are as of 12:55 p.m. at the Tokyo Stock Exchange. Stock symbols are in parentheses after company names.

Add new comment