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28353 CICRAIL@EC2505A (CALL)
RT Nominal up0.231 +0.011 (+5.000%)

20/06/2024 14:42

{I-bank focus}Morgan raises China Railway (00390) to HKD6.2

[ET Net News Agency, 20 June 2024] Morgan Stanley raised the target price for China
Railway (00390) to HKD6.2 from HKD6.1 and maintained the "overweight" rating.
The research house said it expects revenue growth to slow down to low single-digits YoY
in 2024 and operating cash flow should decline YoY on cash collection pressure from local
governments. (rc)

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