Morgan Stanley raised CSR (01766.HK) 0.000 (0.000%) 's
2014-2015 earnings forecasts by 11% and 6%, and lifted its target price
from $8.4 to $9.3 to reflect the robust results in the third quarter.
Rating was maintained at Overweight as the broker expected that the
company might benefit from the potential integration of the industry.
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.
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