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China Resources Power up 3% Citigroup bullish and recommend subscription

Source: Internet
Author: User
Keywords Hong Kong Dollar Citi
Tags high market not too power up project stock the new the new project
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China Resources Power Market rose this morning, the share price rose 3.35% to HK $17.7, 3.76 million shares.　　Citi issued a report saying it would increase its rating from holding to buy, pushing the target price from HK $16.8 to HK $22, a premium of 24% per cent. Citi points out that Cr Power will have a new coal project after raising HK $5.9 billion in new capital through its shares, and that the new project will increase earnings per share. The stock is valued at 20 times times the forecast earnings ratio for the 2009 fiscal year, and the price is 2.3 times times more than the book value, not too high, as is the historical average. Citi also advises investors to subscribe to new shares because the subscription price is 21% more than the current price.

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