Daiwa Ups Datang Power To Outperform,Eyes HK$8.33
Datang Power's (0991.HK) H shares upgraded to Outperform from Underperform by Daiwa Institute of Research, target raised to HK$8.33 from HK$7.42. House says company is "one of the best-managed independent power producers in China;" now is good entry point after stock has fallen 34% from intraday record HK$10.17 on Oct. 18. Despite all these, house at same time cuts company's 2007-09 net profit estimate 2-5% on higher coal costs, interest rates; tips 2007 net profit at CNY3.68 billion (vs CNY2.78 billion in 2006). Stock down 3.1% at HK$6.70.
991 HK - 3,179 = 6,7h$
Datang Power's (0991.HK) H shares upgraded to Outperform from Underperform by Daiwa Institute of Research, target raised to HK$8.33 from HK$7.42. House says company is "one of the best-managed independent power producers in China;" now is good entry point after stock has fallen 34% from intraday record HK$10.17 on Oct. 18. Despite all these, house at same time cuts company's 2007-09 net profit estimate 2-5% on higher coal costs, interest rates; tips 2007 net profit at CNY3.68 billion (vs CNY2.78 billion in 2006). Stock down 3.1% at HK$6.70.
991 HK - 3,179 = 6,7h$