Golden Sachs upgrades TravelSky Technology target price by 41.66% to HK$8.5

Golden Sachs upgraded the 12-month target price of TravelSky Technology (0696) from HK$6 to HK$8.5, up 41.66%, which was mainly attributed to the following elements: 1. The basic factors of the business were upturning; 2. The value of the same kind of companies in the world was a little higher; 3. The value evaluation rules of the fund house were amended. As a result, the fund house still maintained the company in the ˇ§Recommended Listˇ¨. 

Apart from this, Golden Sachs further upgraded the per share profit of the company this year by 5.88% to HK$0.36 with net profit forecast of HK$316.1 mln. Meanwhile, it upgraded the per share profit of the company in 2002 by 2.38% to HK0.43 each with net profit forecast of HK$381.9 mln and upgraded the per share profit in 2003 by 8% to HK$0.53 each with net profit forecast of HK$468.7 mln.

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