Title Apparel: Buy Eclat, Quang Viet; D/G Kwong Lung to Neutral
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Title:Apparel: Buy Eclat, Quang Viet; D/G Kwong Lung to Neutral
Download File:Apparel industry note 170613--sinopac.pdf 
  • Buy Eclat (1476 TT), TP of NT$366 (23x 2017F P/E, 15% upside)

  • Buy Quang Viet Enterprise (4438 TT), TP of NT$181 (20x 2017F P/E, 9% upside)

  • Downgrade Kwong Lung Enterprise (8916 TT) to Neutral as fire damage at a Vietnamese plant in MAR might cap sales growth this year.
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