External broker reports(aggregated public sources), Capital Securities Corp

Capital Securities

External broker reports(aggregated public sources)

Capital Securities Corp

Capital Securities provides clients with investment services covering diversified financial products. We have outstanding business performance amid intense competition in the domestic securities market. 

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Equity Bottom-Up

E.Sun Financial Holding Co / Equity Bottom-Up

<p>Revenue/earnings resume growth in FY21 and appear promising in FY22 . The FHC’s 1Q~3Q21 net profit increased by 14.0% YoY to NTD15.905bn, showing its earnings have resumed YoY growth.. Considering the following: (a) E.Sun FHC’s core revenue/earnings momentum may persist; (b) loan demand continues to grow; (c) sound asset/capital conditions, we reiterate TRADING BUY with TP of NTD28.0 (1.6x FY20 PBR). </p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Revenue/earnings resume growth in FY21 and appear promising in FY22 . The FHC’s 1Q~3Q21 net profit increased by 14.0% YoY to NTD15.905bn, showing its earnings have resumed YoY growth.. Considering the following: (a) E.Sun FHC’s core revenue/earnings momentum may persist; (b) loan demand continues to grow; (c) sound asset/capital conditions, we reiterate TRADING BUY with TP of NTD28.0 (1.6x FY20 PBR). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

E.Sun FHC (2884 TT, TRADING BUY, NTD26.90) 

<p>Revenue/earnings may resume growth in FY21; recommend TRADING BUY. The FHC maintains momentum across its core businesses. In addition to rising loan demand, its asset and capital both appear sound. Thus, we reiterate TRADING BUY with TP of NTD28.0 (1.6x FY20 PBR).</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Revenue/earnings may resume growth in FY21; recommend TRADING BUY. The FHC maintains momentum across its core businesses. In addition to rising loan demand, its asset and capital both appear sound. Thus, we reiterate TRADING BUY with TP of NTD28.0 (1.6x FY20 PBR).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

E.Sun FHC (2884 TT, TRADING BUY, NTD35.8)

Taiwan

E.Sun Financial Holding Company Ltd. is a holding company.  Through its subsidiaries, the Company provides banking, brokerage and dealer services.

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E.Sun Financial Holding Co (2884 TT)

E.Sun FHC (2884 TT, TRADING BUY, NTD26.90)

Revenue/earnings resume growth in FY21 and appear promising in FY22 . The FHC’s 1Q~3Q21 net profit increased by 14.0% YoY to NTD15.905bn, showing...

Capital Securities

E.Sun FHC (2884 TT, TRADING BUY, NTD35.8)

Revenue/earnings may resume growth in FY21; recommend TRADING BUY. The FHC maintains momentum across its core businesses. In addition to rising...

Capital Securities

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