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<Research>Citi Adds BJ ENT WATER (00371.HK)TP to $2.85, Expects Higher Cash Flow & Div.
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Citi Research published a research report reaffirming rating at Buy for BJ ENT WATER (00371.HK), and adding its target price from $2.65 to $2.85. The broker also raised its 2025-2027 net profit forecasts by 1-2% to reflect lower financial costs. Citi Research expected that, over the next few years, as operating income rose and capital expenditure lowered, the Company will add approx. RMB1 billion in positive free cash flow annually, which will be used for dividends and debt repayment. Furthermore, with the government settling debts, the cash recovery situation of the Company's accounts receivable is continuously improving. Meanwhile, more free cash flow will support a gradual increase in dividends, with an expected YoY growth of 3-5% in dividends in 2025. AASTOCKS Financial News Website: www.aastocks.com |
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