[ET Net News Agency, 23 February 2018] HSBC Global Research lifted its target price for
China Everbright International (CEI)(00257) to HK$14.4 from HK$13.6, and reiterated its
"buy" rating.
The research house said CEI is its preferred pick among China environmental sector.
CEI's solid waste treatment, biomass energy and hazardous waste capacity has ramped up
well in 2017 and operations are driving higher quality earnings.
Meanwhile, the government is also tightening the requirements for PPP projects, implying
better opportunities for quality operators like CEI. CEI is currently trading at 12x 2018
PE and on cash-based earnings (i.e., excluding construction income) HSBC estimated the
company is trading at 17x PE with recurring earnings (cash-based) expected to grow at a
33% CAGR from 2017-19. (KL)
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00257 EB ENVIRONMENT
Nominal 
3.290 +0.030 (+0.920%) Others
23/02/2018 11:28
[I-bank focus]HSBC lifts China EB Int'l (00257) to HK$14.4
| Remark: | Real time quote last updated: 26/04/2024 12:03 |
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