Datang International Power Ltd

Lehman Ups Datang To Overweight; Targets HK$13 Lehman Brothers upgrades Datang International (0991.HK) to Overweight from Equalweight after factoring in a more realistic 3% terminal growth from 0%, and HK$4 per share for its 9.5 billion coal reserve. Raises target to HK$13.00 from HK$6.00. Says benefits from its coal mine investments, Duofeng railway and Duolun coal-to-Polypropylene project should gradually emerge and re-rate the stock. Stock +0.9% at HK$9.25. HK RT +,55% = 9,22h$

China Interests May Boost Pwr Asset Prices - ML Merrill Lynch says rising interest from Chinese power companies investing in Asian power assets could push up region's asset prices further, trend likely to sustain for at least another 5 years. House cites potential bidders for Singapore's brownfield generation assets that China Huaneng Group, parent of Huaneng Power (0902.HK), is among bidders. Says Datang (0991.HK) may build hydro plant in Laos, Huadian (1071.HK) may build 2,400-megawatt, US$2.5 billion coal-fired plant in Indonesia. Notes China's State Grid Corp trying to bid 25-year Philippines' National Transmission Corp. Concession; China Southern Grid also wants to build hydro plant in Laos, coal-fired plant in Vietnam.

991 DATANG POWER 9.41 0.48 5.38 914,049 97,641