[ET Net News Agency, 10 January 2018] Nomura lifted its target price for China Shenhua
Energy (01088) to HK$26.81 from HK$23.31, and maintained its "outperform" rating.
The research house raised its EPS forecast by 23% for FY2017, mainly on higher coal
price assumption, and 16% for FY2018-19, mainly on higher assumptions for power plant
utilisation.
It noted that the stock trades at attractive 9x FY2018 P/E, versus the peer average of
11x. The stock also offers an average 12% FCFE yield for FY2017-19. (KL)