Share price performance (%)

1wk: 5.22

3mths:54.09

1mth:5.22

1yr:71.95

The bank was upgraded to 'neutral' from 'underweight' on bad-debt write-backs and yuan deposit spreads, but analysts Michael Chan and Scott Christensen said the current share price included the full value of these potential sources of profits. They said any further earnings upgrades would have to be driven by higher than expected loan volumes. 'We think it will be a long shot for growth to hit double-digit levels next year.'

JP Morgan

SELL China Resources Power

Closing price:$2.85

Target price: $2.30

Share price performance (%)

1wk: 3.63

3mths:NA

1mth:NA

1yr:NA

Analyst Robert Fong initiated coverage on the power producer with a 'sell' recommendation, citing the stock's high valuation. He said China Resources Power had outlined a plan for becoming a successful independent power producer but the share price discounted a flawless execution of this growth strategy. 'In price-to-earnings terms, it is only at a slight discount to established operators even though much of its growth plan remains to be executed,' he said.

Citigroup Smith Barney

HOLD Giordano International

Closing price: $3.45

Target price: $3.30

Share price performance (%)

1wk: 11.29

3mths: 23.21

1mth: 1.42

1yr: 13.11

The target price has been raised from $2.10 and the recommendation lifted to 'neutral' after a correction in the share price to a 'more reasonable' 14.6 times next year's earnings from high-teens before the nine-month earnings report. The new target accounts for 15 times next year's earnings and the current share price 'doesn't offer very attractive risk reward', analyst Marisa Ho said.

Credit Suisse First Boston