CITIC Securities keeps “buy” rating on China Eastern
Written by Administrator
Monday, 10 September 2007
BEIJING, Sept. 10 (InfoChina) – In spite of sharp rises recently, CITIC Securities still gives a “buy” rating on the A-share of China Eastern Airlines (NYSE: CEA, HK: 0670, SH: 600115), given that the carrier would benefit from enhanced operational efficiency and capital injection from SIA and Temasek amid recovery of the domestic aviation industry.
CITIC predicts EPS of China Eastern from 2007 to 2010 would be 0.13, 0.23, 0.44 and 0.63 yuan respectively with annual compound growth rate at 68 percent, and its PE till 2009 would be 35 times with rational price at 15.5 yuan and the highest price at 20 yuan.
CITIC predicts that aviation industry would keep growth till 2010.
China Eastern A-share closed at 17.02 yuan on the latest trading day on Sept. 7. Its trading was suspended Monday. (Edited by Lin Fanjing,
)
China Stock News 
