Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
01088 CHINA SHENHUA
RTNominal up30.750 +0.350 (+1.151%)
Research Report

08/04/2019 17:22

[I-bank focus]Morgan cuts China Shenhua (01088) to HK$23.1

[ET Net News Agency, 8 April 2019] Morgan Stanley cut its target price for China
Shenhua (01088) to HK$23.1 from HK$25.1 on lower earning estimates and maintained its
"overweight" rating.
The research house lowered its 2019/20 net profit forecasts by 6.6%/2.2% respectively.
Following completion of the Power JV with GD Power effective from January 2019, Power EBIT
is projected to fall from Rmb10bn in 2018 to Rmb4.5bn in 2019. Meanwhile, given Shenhua's
42% stake in the newly formed power JV, associate profit will rise from Rmb0.4bn in 2018
to Rmb6.8bn in 2019, Morgan estimated.
Therefore Morgan sees the earnings drop at Power EBIT as being more than offset by the
incremental earnings from associate. Coal production was also adjusted to the company's
guidance of 290mt in 2019 versus Morgan's initial estimate of 300mt. (KL)

Remark: Real time quote last updated: 28/03/2024 18:00
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2024 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.