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RTNominal up37.300 +0.550 (+1.497%)

25/10/2019 17:42

{I-bank focus}UBS cuts Beijing Enterprises (00392) to HK$50

[ET Net News Agency, 25 October 2019] UBS Global Research lowered its target price for
Beijing Enterprises Holdings (00392) to HK$50 from HK$55 and maintained its "buy" rating.
The research house cut its earnings forecast from 2020 onwards by 1-9% due to the margin
cut of Beijing Gas Blue Sky (06828) and depreciating Rmb against HKD.
The Beijing government lowered the gas distribution margin for non-residential users.
UBS expects the operating profit for Beijing Gas to decline by 14% in 2020, but growing at
1% and 4% in 2021 and 2022 driven by volume growth. (KL)

Remark: Real time quote last updated: 22/01/2020 17:59
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