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.
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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