HOLD
BOC Hong Kong (Holdings) Credit Suisse First Boston has downgraded its rating on the bank to 'neutral' from 'outperform', given that the lender has surged 19 per cent and outperformed the Hang Seng Index by 10 per cent in the past two weeks. Analysts Jay Luong and Bill Stacey said positive news from the property sector and improved loan volumes could push the stock beyond their target price of $12.50. They said the counter was attractive compared with its peers, based on its valuation of 16.3 times next year's earnings.
HOLD
TCL International Holdings Lehman Brothers has reiterated its 'equal-weight' rating on the television and mobile-telephone maker, saying the stock was fully valued after its recent run-up. Analysts Alan Hellawell and Alex Mou expected a continued improvement in TCL's top-line in the third quarter but said gross margins might decline slightly due to falling sale prices. The company said sales over the 'Golden Week' holiday had exceeded targets and it remained optimistic. The analysts have a price target of $1.88 for the stock.
HOLD
Hutchison Harbour Ring
