China Shenhua rises 2% Citi means valuations have been fully downgraded to hold
Source: Internet
Author: User
KeywordsPremium HKD Citi present value
China Shenhua H shares today surged 1.88% to 27.05 Hong Kong dollars, but ran a 18.39 million-share deal. Citi issued a report saying that it had lowered its rating from buying to holding, but set the target price from HK $26.8 to HK $29.9, before aligning the target price benchmark from the original net present value to a net present value premium of 30%, with a target price premium of 11% per cent. Citi, China's shares, have digested the positive after a strong rally, which looks full, equivalent to 15 times times the 2009-year forecast, and a net present value premium of 17%. Given the company's tradition of focusing on contract business, the bank believes investors will be more keen to invest in companies that are more focused on spot and coking coal.
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