Credit Lyonnais upgrades BJ DATANG target price to HK$4.07

Credit Lyonnais said in the statement that it elevated the target price of Beijing Datang Power Generation (0991) from HK$3 to HK$4.07, obviously running counter to the investment advice by Goldman Sachs this morning, which lowered the rating of the company from ˇ§leading the marketˇ¨ to ˇ§in line with the marketˇ¨.

The fund house pointed out that the newly-acquired power project increased the power capacity of Beijing Datang Power Generation, thus lifting the annual growth rate of generation capacity from 9% to 10.3%. Accordingly, its discount value added 3% to HK$4.07 per share.

It estimated the annual growth rate of the company would stand at 30%.

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