Damo released a research report saying that China's Shenhua (01088.HK) QHD5500 coal price is expected to rise to 720 yuan per ton this year, and 680 yuan per ton next year. The bank raised the Group's average coal price forecast for this year and next to RMB 553 and RMB 522 per ton, respectively, and also raised the earnings estimate per share by 12% to 14% for the period. The target price was raised by about 6%, from HK$33.1 to HK$35.1, with a rating of “increase in holdings”.
大摩：予中国神华(01088.HK)“增持”评级 目标价升至35.1港元
Damo: Target price for China Shenhua (01088.HK) “gain” rating raised to HK$35.1
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