Yangzijiang

Yangzijiang: DBSV adds to large cap conviction pick. Notes its peers in the China A-share market China CSSC (600150 CH) and China Shipbuilding industry have performed very well in recent months. While YZJ has a lower mkt cap , valn parameters such as fwd PE, PB and yield are much more attractive. The house has a current fundamental TP of $1.62 . Notes that a close above $1.24 points to $1.45 next.