The analyst rating from CMBI for SANY INT'L (00631.HK) is based on several key factors:
1. Progress in Mining Truck Business: CMBI believes that SANY INT'L will continue to make progress in its mining truck business, which is expected to contribute 15-16% to total revenue in 2026-2027.
2. Growth in Large Mining Trucks: The broker anticipates that large mining trucks, which are of higher value and have better profit margins, will experience higher growth.
3. Strong Performance in Port Machinery: CMBI is confident in the revenue growth and profit margin improvement of the large port machinery business, supported by an order backlog exceeding 12 months.
4. Earnings Forecast Increase: The broker raised its earnings forecasts for 2026 and 2027 by 3% and 9%, respectively.
5. Target Price Increase: CMBI elevated its target price from $8.9 to $20.6.
These factors collectively led CMBI to maintain a "Buy" rating on the stock.
