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<Research>Citi Expects EB ENVIRONMENT (00257.HK) Profit Growth to Accelerate, Adds TP to $5.4
Recommend 4 Positive 8 Negative 7 |
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Citi Research reiterated rating at Buy on EB ENVIRONMENT (00257.HK), based on the expectation that 2025's increasing positive free cash flow will be sufficient to cover financing costs and dividend distribution for the first time, favoring continued dividend growth; capital expenditure is more prudent, primarily directed towards overseas projects with higher returns than domestic projects; and the dual listing catalyst on the A-share market is expected to drive H-share value re-rating. Due to reduced financing costs, the broker raised its 2026/ 2027 net profit forecasts for EB ENVIRONMENT by 2-3%. This year's profit YoY growth is expected to accelerate, benefiting from reduced foreign exchange losses, financing costs and impairment losses. Therefore, Citi Research added its target price for EB ENVIRONMENT from $5 to $5.4 on higher free cash flow, lower weighted average capital cost and others. AASTOCKS Financial News Website: www.aastocks.com |
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