Heng Ding industrial rose 2% Macquarie Promotion target price 70% to HK $8

Heng Ding industry this morning against the city rose, the share price is up 1.78% to 6.3 Hong Kong dollars, 1.7 million shares.　　Macquarie issued a report that the unit was stronger than the broad-market rating, with target prices rising by a hefty 70% to HK $8 from HK $4.7, a premium of 27% per cent.　　Macquarie pointed to a 10% and 40% per cent rise in 2009-10 earnings forecasts for the company to reflect expectations of higher coking coal prices, which are expected to be more robust, including a net present value premium of HK $1.9. In view of recent stock price gains, Macquarie believes that Heng Ding industry is currently fully valued. However, the bank also estimated that the net present value would be significantly increased if small coal acquisitions were carried out according to management expectations.