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UOBKH lifts Shenhua Energy (01088) to HK$28
 UOB Kay Hian lifted its target price for Shenhua
Energy (01088) to HK$28 from HK$26, and reiterated its "buy" rating.
  The research house said Shenhua remains our preferred name among Chinese coal names
because of its competitive advantages: (a) integrated coal-power-transport model cushions
against well-diversified risks; (b) continues to strengthen low-cost position; (c) solid 
balance sheet; and d) strong cash generation ability.
  Based on its operations and 2017's positive profit alert, UOBKH believes Shenhua has
achieved improvements across all segments. It expects Shenhua will continue to pay high
dividends going forward given its: (a) healthy balance sheet; (b) strong 2017 results (EPS
up +92.3% yoy); (c) consistent track record of high payouts (around 40% historically, paid
special dividend for 2016 with yield of 15.9%).

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