China National Coal Association(CNCA)'s chief Wang Xianzheng said the authority will strive to get the coal price to return to a rational level so that the thermal coal price can rise back to around RMB0.1-0.12/Kcal. It is estimated that in order to reach the aforesaid level, the current coal price has to go up 14.11%-24.48%.
CLSA lowers Beijing Ent Water (00371) to HK$6 CLSA cut its target price for Beijing Enterprises Water (BEW)(00371) by 8% to HK$6, and reiterated its "buy" rating. The research house said BEW's share price has dropped 14% in the last two trading days. First, the 2017 earnings results are below expectations. Second, management is guiding for 20-25% net profit growth for 2018, versus 30% in the past few years. Management now has a cautious approach to water PPP (public-private partnership) projects, which is not necessarily bad. CLSA cut its 2018-19 earnings forecasts by...
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