“CEL’s current share price allows investors to acquire shares below the CITIC Group’s acquisition price of $0.825 (adjusted) and close to China Reform Fund’s (CRF) entry level of $0.725,” they explain.
SINGAPORE (July 6): UOB Kay Hian is maintaining its “buy” call on CITIC Envirotech (CEL) with a target price of $1.10, noting that its current share price has reached attractive levels as the group remains on track to delivering record results.
In a Thursday report, analysts Edison Chen and Nicholas Leow observe how the counter’s share price has dipped to the lowest this year to nearly match its strategic shareholder’s entry levels.
