[ET Net News Agency, 30 October 2019] Credit Suisse raised its target price for China
Coal Energy (01898) to HK$4.2 from HK$4 and maintained its "outperform" rating.
The research house believes China Coal's 9-month net income growth was mainly due to
higher sales volume. It thinks, if the restriction on coal import was implemented, coal
price could go up by Rmb10-20/t in the short term.
Credit Suisse raised 2019/20/21 earnings by 8.6%/9.1%/5% to Rmb7.6bn/Rmb7.2bn/Rmb6.3bn
to reflect higher sales volume assumption. (KL)