Guotai Junan Securities: Maintains Anhui Wanxiang Highway (00995.HK) at Buy rating, raises target price to HK$19.44.

According to the Zhitong Finance and Economics APP, Guotai Junan Securities released a research report stating that the transportation red chip is preferred, and they maintain a buy rating for Anhui Wanjiang Expressway (00995.HK). Considering the equity investments in Shandong Expressway and Shenzen Expressway, the forecasted net profit attributable to shareholders for 2026-27 has been raised to 2.1/2.0 billion RMB (due to expansion projects), with an additional forecast for 2028 of 2.2 billion RMB. The target price has been raised to 19.44 Hong Kong dollars, corresponding to a P/E ratio of 14 times in 2026. Assuming a dividend payout ratio of 60%, the estimated dividend yield for 2026 is 4.9%.