[ET Net News Agency, 29 January 2019] Daiwa Research lifted its target price for China
Shenhua Energy (01088) to HK$19.2 from HK$19 and maintained its "hold" rating.
The research house expects the company's 2018 results to be impacted by a higher unit
production cost of coal, though this should be partly offset by improving profitability in
the power segment.
Daiwa expects Shenhua to be influenced by potential coal-price softening in 2019. It
considers Shenhua's 2019 dividend yield of 5% to be attractive, supported by its strong
financial position.
Daiwa expects the ASP of coal in 2019 to soften from the 2018 level with more coal
capacity released. (KL)
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01088 CHINA SHENHUA
Nominal 
32.100 +0.400 (+1.262%) Others
29/01/2019 17:16
[I-bank focus]Daiwa raises China Shenhua (01088) to HK$19.2
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