Credit Lyonnais upgrades target price of TravelSky to HK$7

After meeting with management team of TravelSky Technology Limited (0696), analyst of Credit Lyonnais upgraded target price of the company from HK$5.8 to HK$7. Investment rating of the company was upgraded from ˇ§sellingˇ¨ to ˇ§lagging behind the marketˇ¨ as well. If share price of the company falls through HK$6, Credit Lyonnais will acquire shares of the company. Credit Lyonnais also upgraded profit forecast of the company by 12% to RMB 378mln, a profit of HK$0.4255 each. Profit outlook of next year was upgraded by 11% to HK$424mln, a profit of HK$0.4777each and profit outlook of 2003 was upgraded by 8% to HK$459mln, a profit of HK$0.517 each.

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