[ET Net News Agency, 30 April 2018] Citi Research lifted its target price for Jiangsu
Expressway (JSE)(00177) to HK$12 from HK$10.3, and upgraded its rating to "buy" from
"sell" after the recent drop.
The research house said the stock dropped 16% from the latest peak in December 2017
after it posted strong 1Q results, amid the expectation of accelerating Fed tightening.
Citi thinks the strong performance of the properties segment is unlikely to sustain
given the tightening policy, but it raised its earnings forecasts by 3%/5%/1% for 2018-20
to factor this. (KL)