[ET Net News Agency, 16 July 2018] J.P. Morgan lifted its target price for China
Everbright International (CEI)(00257) to HK$13.4 from HK$13, and reiterated its
"overweight" rating.
Unlike Beijing Enterprises Water (BEW)(00371), CEI's earnings are less reliant on
construction projects and more focused on waste-to-energy projects with 30-year service
concessions, said the research house.
JPM estimated its recurring operation earnings to grow by 30% CAGR in the next three
years and to comprise of 70% of total earnings by 2020. (KL)