Chengdu high Speed flat big line call to buy higher target price

Chengdu high-speed fell back this morning, the share price fell slightly after half a half-day flat at HK $2.56, the deal 5.604 million shares.　　China Merchants Securities (Hong Kong) issued a report that the first time to cover Sichuan Chengdu, to give the investment rating, the target price of HK $3.6, more than the latest market premium of 41%. China Merchants Securities (Hong Kong) means that, benefiting from the country's western development policy, post-disaster reconstruction investment, Chengdu high-speed performance will be guaranteed.　　Asset injection into the company's biggest bright spot; At present, it has three highway asset acquisition plans, including the Chengdu-Leshan, Chongqing high-speed Sichuan section (Suining-Chongqing), as well as Nanchong high-speed (Chengdu-Nanchong), the injection of High-quality road production will become the West's only high-speed link core backbone.　　China Merchants Securities (Hong Kong) estimated that the Chengdu high-speed 2009-2011 earnings per share is 0.27,0.31 and HK $0.34 respectively, corresponding to PE 8.81 times times, 7.78 times times and 7 times times. It also proposes to buy the shares at a target price of HK $3, which corresponds to 12 times times the 09 expected p/E. The steady growth in income and the revenue from the new turnpike are expected to support the company's overall revenue.