[ET Net News Agency, 24 September 2019] Credit Suisse lowered its target price for
China Pacific (CPIC)(02601) to HK$40 from HK$42 to reflect near-term uncertainties and
maintained its "outperform" rating.
CPIC announced its plan to list GDR on LSE. The research house estimated the issuance
would dilute EPS by 7%, raising concern over its steady and sustainable increase in DPS, a
key investment thesis.
Credit Suisse added that investors may also question the rationale behind, given already
strong solvency position of 296%. (KL)