[ET Net News Agency, 6 September 2019] J.P. Morgan raised its target price for China
Railway Group (CRG)(00390) to HK$9.1 from HK$8.1 and maintained its "overweight" rating.
The research house sees an improving growth outlook for CRG in light of enhancing
pro-growth policy support and easing funding constraints for infra projects. CRG's
valuation
also appears compelling, offering attractive risk-reward.
JPM expects domestic railway investment to pick up strongly in 4Q, benefiting the rail
capex names, including CRG. (KL)