-
Morgan Stanley said PETROCHINA (00857.HK)  -0.190 (-1.931%)    Short selling $227.82M; Ratio 22.681%   's 6% year-on-year drop in its third-quarter profit is in line with the expectation. The research house still believed it is a perfect time to collect the company's shares as its share price has bottomed, which reflected the pressure of declining oil price. In addition, the price increase in fuel gas in Mainland and the company's capex reduction will bring long-term positive impact on the stock price. The Overweight rating was maintained for the stock. 

Comments

Post a Comment

Popular posts from this blog

-
Image
CITIC Annual Net Profit Up 1.8% to $43.902B; Final Div $0.25 CITIC (00267.HK)    -0.160 (-1.447%)    Short selling $8.89M; Ratio 25.055%   announced that for the year ended December 2017, net profit rose 1.8% yearly to $43.902 billion, with an EPS of $1.51. A final dividend of $0.25 was declared. Profit contribution from financial sector of the company amounted to $39.5 billion, up 3% yearly. CITIC Construction continued to make inroads securing projects, both domestically and internationally, particularly along the Belt and Road corridor.
Read more
-
Hopewell Hold (00054) sells Hopewell Infr stake for $9.9B  Hopewell Holdings (00054) has agreed to sell 2.055 billion shares of Hopewell Highway Infrastructure (00737) , representing 66.69% of the issued share capital of the company, to Shenzhen Investment International Capital Holdings Infrastructure Co. to HK$9.865 billion in cash, or HK$4.8 per share, which has a discount of 3.61% to the closing price of HK$4.98 per share on 29 December 2017. Upon completion of the deal, the purchaser and parties acting in concert with it will own a total of 66.69% stake in Hopewell Highway Infrastructure and the purchaser will be required to make an unconditional mandatory cash offer for all other issued shares of Hopewell Highway Infrastructure also at HK$4.8 per share. The total consideration of the offer will be HK$4.927 billion assuming full acceptance of the offer. The offeror intends to maintain Hopewell Highway Infrastructure's share listing following the close of...
Read more
-
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...
Read more