Barclays, in the latest research report, upgraded PACIFIC BASIN (02343.HK) +0.410 (+11.615%) Short selling $23.89M; Ratio 15.250% 's
rating from Overweight given an attractive risk reward of the company.
However, the research house cut its 2014 estimated book value per share
due to asset impairments and weaker-than-expected freight rates of
Pacific Basin, and correspondingly lowered its target price from $4.8 to
$4.3.
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 19%. At the current level, it believes many of the negatives are already priced-in.
Comments
Post a Comment