 |
|
  |
2008-4-15 04:11:00 p.m. HKT, XFNA
BROKER CALL China's Harbin Power target cut 39 pct on steel costs - Citigroup
|
| |
BEIJING (XFN-ASIA) - Citigroup cut its target price on Harbin Power Equipment
Co Ltd by 39 pct to 15 hkd because of the rising steel costs faced by the power
plant engineering firm.
"Harbin Power's earnings risk is high amid margin decline due to rising steel
prices where its net profit has high sensitivity," said analyst Pierre Lau said
in a note to investors.
However, Citigroup maintained its "hold" rating as the share price is already
down 48 pct year-to-date, and its 10 times 2008 earnings estimate is the lowest
among its peers.
At 3.39 pm, Hong Kong-listed Harbin Power was down 5.5 pct at 12.3 hkd.
(1 usd = 7.8 hkd; 7.0 yuan)
andrew.pasek-vanburen@xinhuafinance.com
MMMM |
| |
News Provided by XFNA |
| |
|
| Copyright(C) AASTOCKS.com Limited 2000. All rights reserved |
| |
|
|
|
