[ET Net News Agency, 6 June 2019] Citi Research raised its target price for Beijing
Enterprises Holdings (00392) to HK$50 from HK$45 and maintained its "buy" rating.
The research house raised its 2019-20 net profits forecasts by 2-3% mainly for more
profits from gas, waste treatment, and brewery business. Citi likes Beijing Enterprises
for its high earning quality with 80% 2018 net profit from utility businesses, decent 10%
2018-21 EPS CAGR, and inexpensive 6.6x 2019 PER and 0.7x PB. (KL)