Golden Sachs upgrades Shandong International Power to "lead the market"

Golden Sachs upgraded the investment rating of Shandong International Power Development (1071) to "lead the market", because the stock price of the company was downgraded by 27% from the high level of HK$2.17 in June and its six-month target price was set at HK$2.15. Moreover, the current price of the stock had 36% ascending room compared with the target price. Accordingly, the fund house upgraded the profit forecast of the company in 2001 by 3% to HK$1.397 bln with per share profit of HK$0.27, while it downgraded the profit forecast of the company in 2002 by 5% to HK$1.368 bln with per share profit of HK$0.26.

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