Morgan Stanley believed that R&F PROPERTIES (02777.HK) +0.960 (+11.693%) Short selling $46.01M; Ratio 9.193% 's share price will be increased in 15 days since the interest rate cut is beneficial to developers, supporting new home sales and ASP as well as alleviating the industry's liquidity, inventory and margin concerns. The broker expected that there will be a short-term share price lift for developers, especially for those with high NDER, FCF deficit and inventory.
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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