BUY CNOOC DBS Vickers Securities has maintained a 'buy' rating on the stock after the oil and gas company announced its plan to acquire more oil assets in China. Analyst Rachel Tsang said CNOOC would acquire further stakes of 24.5 per cent in Qinhuangdao and 49 per cent in Liuhua oil fields. As the acquisitions will offset the 30 per cent shortfall in gas sales to China Light and Power, Ms Tsang has raised her earnings estimates for CNOOC by 3.4 per cent to $1.11 per share this year and 5.3 per cent to $1.06 for next year. Despite the earnings upgrade, she expects CNOOC's share price will not rise until late next month as the counter is trading at 11 times forward earnings. Ms Tsang has a target price of $12.30 on the stock. HOLD Li & Fung Daiwa Institute of Research has maintained a 'hold' recommendation on the export trading firm. Analyst Natalie Chow believes Li & Fung will continue to gain market share due to its strong sourcing network and will see double-digit growth in both top and bottom lines this year as a result. She expects operating margins to rise through increased orders but that this will be offset by lower margins at Janco, its newly acquired sourcing agent. Ms Chow has revised up her target price to $11.60, on the back of stronger export demand in the second half of this year. She recommends investors buy but only at less than $10 after the recent rally in the share price. BUY Beijing Datang Power UBS Investment Research has maintained a 'buy' call on the power producer but has lowered its profit estimates because of additional expenses arising from new environmental regulations. Analyst Alice Hui has cut her profit estimates by 0.4 per cent to 34 fen per share this year and 2.2 per cent to 35 fen next year. Despite the earnings downgrade, Ms Hui remains upbeat on the mainland power sector, citing reasons such as the potential for more greenfield projects and tight supply and demand. She expects Beijing Datang to report a 26.6 per cent yearly increase in net profits for the first six months. Ms Hui has revised downward her target price for the stock from $4.75 to $4.63 but believes the stock has at least a 15 per cent potential upside.