[ET Net News Agency, 31 January 2018] Morgan Stanley lifted its target price for China
Everbright International (CEI)(00257) to HK$14.87 from HK$13.53, and maintained its
"overweight" rating.
The research house said CEI's operational waste-to-energy (WTE) capacity grew 59% YoY in
2017. It estimated capacity will rise another 23% in 2018 and 34% in 2019, indicating a
vigorous increase in operating cash flow.
CEI currently trades at anattractive valuation of 11.4x 2018 P/E, below historical
average of 16.9x. (KL)