2015-04-13

20150414 早晨 Morning Broker Reports

Shenyin Wanguo: existing trend will continue, drug stocks will rally, B-shares have only started to rally

As you can see below, B-shares have exploded higher, but still have room to close the gap. Based on current rates there's only about 2 to 3 more days to go though.

Haitong: likes drug/medical stocks and also oil H-shares:
We believe that H shares of oil service companies, compared to A shares overall have certain advantages: (1) strong earnings and low valuation. H shares of oil service company's overall net profit margin is higher than the A shares of oil service companies, while its average ROE was significantly higher than the A-share companies, and PE, PB valuation is significantly lower than the A shares, H shares of oil service companies with earnings and estimates value advantage. (2) more international. H shares of oil service companies in about 50% of revenues come from overseas, and the proportion of A shares only about 20%, H shares of oil service companies more international. Recommendations focus on companies including China Oilfield Services, SPT Energy, Anton Oilfield Services.

There's your value stocks, no love for oil field service stocks in HK market, Anton for example is down from 6 to 2 in the past year.

Guohai is looking at the latest brokerage reforms:
We believe that "reform" and "liberal" will continue to support the stock market, the brokerage sector remain optimistic. Investors are advised to focus on lower commission rates and better diversified services Haitong Securities (600837) and Huatai Securities (601,688), as well as to create a clear Internet brokerage State Securities (600,109) and Kam Lung shares (000712)


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