UBS: Raises ZOOMLION (01157) target price to 8.95 Hong Kong dollars, with a "Neutral" rating.

UBS released a research report stating that ZOOMLION (01157) management indicated that the company will mainly benefit from policy support for infrastructure investment by the government, the launch of major projects such as the Yarlung Zangbo River downstream hydropower project and the cross-sea passage, as well as the accelerated development of new energy vehicle products. It is expected that domestic sales will moderately recover during the "Five-Year Plan" period. The bank has raised the target price of ZOOMLION from HK$7.8 to HK$8.95 to reflect the rising overseas demand cycle and further improvement in the quality of the company's assets, and reiterated a "Neutral" rating.