Yiu Targets Datang Power at HK$2.75 & stop-loss at HK$2.25

As the market remains volatile, Patrick Yiu, associate director of Kingsway SW Securities Ltd., said he prefers mainland power stocks which are more defensive. He picks Beijing Datang Power Generation Co (0991) in view of its satisfactory interim results. Yiu expects Datang Power's after-tax profit attributable to shareholders to be about 10 percent for full year 2001 and have a P/E of about 8 times. He suggests a buy at around HK$2.375, with target at HK$2.75 and stop-loss at HK$2.25. Datang Power shares ended last Friday down 2 percent at HK$2.425.

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