HK Machine Works now up 1.62% Goldman Sachs rating 88 HK $

The Hong Kong Machinery Project (00044-HK) is now up 1.62%, at HK $94, with only 33,600 shares and few deals.　　The unit is currently running for the big city, with the index up 2.61%. Goldman Sachs downgraded the unit from selling to neutral, while the target price was lowered by 52% to 88.　　The Hong Kong dollar, which is equivalent to 11.4 times times the expected price-to-earnings ratio for 2010, extends earnings forecasts to fiscal year 2010. The bank said the market was digesting expectations that the company's earnings would hit bottom in 09 and would pay more attention to the company's normalized return. added that the unit had been winning the market since the rating of the Port Machine project had been lowered to sell since October 10 last year. Added that the reason why the Hong Kong machine works to win the market because of the relative resilience of profits, and dividend yield to provide support.