Morgan Stanley: Maintains "overweight" rating on CHINA RES GAS(01193) with target price raised to HK$34.1.
Daiwa raises profit forecast for CR Gas in 2024-2026 by 2%.
Morgan Stanley has released a research report stating that the target price of CHINA RES GAS (01193) has been raised by 2%, from 33.4 Hong Kong dollars to 34.1 Hong Kong dollars, mainly reflecting better profit forecasts, maintaining a "hold" rating. Both the pessimistic and optimistic assumptions for the company have also been raised by 2%, mainly due to higher earnings per share forecasts.
Morgan Stanley stated that the profit forecasts for CHINA RES GAS for the years 2024-2026 have been raised by 2%, taking into account the actual performance in the first half of 2024, mainly due to better profit margin forecasts and extending the valuation to 2025 based on a P/E ratio of 13, previously 14 for 2024.
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YEE HOP HLDGS (01662) intends to subscribe for Trio AI with a capital of 15 million Hong Kong dollars, increasing its issued capital by approximately 51.73%.
YEE HOP Holdings (01662) plans to offer a discount of approximately 12.96% for the rights issue, with a maximum net funds raised of approximately HK$34.97 million. Trading will resume on September 17th.
E Fund Management Co. reduced its holdings of Hangzhou Tigermed Consulting (03347) by 4.17 million shares at a price of approximately HK$44.34 per share.
