STOCKWATCH: Hongkong Electric first choice of Utilities at target price of HK$32

David Yip ,an analyst at HSBC security ,said Hongkong Electric was the first choice of local utilities at target price of HK$32.He said under the profit management agreement, the profit growth of local power sector depended on the growth of capital. The more capital laid out,the more profit returned. Hongkong Electric expected no great changes in financial expenditure in 2001.Situation would be better till further development in 2000.

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