Yamato: Upgraded New Century Energy (02688.HK) rating to "buy" with target price cut to 55 Hong Kong dollars.

According to the Wisdom Financial APP, Daiwa released a research report stating that it has upgraded Newocean Energy (02688.HK) investment rating to "buy", based on the discounted cash flow value (DCF) target price from 67.7 Hong Kong dollars, reduced by 18.8% to 55 Hong Kong dollars. A 7% return rate provides downside support, while the elimination of adverse effects from privatization should help valuation return to normal levels.