China Merchants Holdings kept at 'Add' with $1.10 price target by CIMB

Stock Name: CMPacific
Company Name: CHINA MERCHANTS HLDGS(PACIFIC)

Research House: CIMB

Price Call: BUY

Target Price: 1.10

SINGAPORE (Dec 2): CIMB Research is maintaining its "add" call on China Merchants Holdings (CMH) with an unchanged target price of $1.10.

In a report dated Nov 27, CIMB analysts Roy Chen and William Tng continue to like CMH for its high dividend yield, steady earnings stream and strong support from its parent China Merchant Group.

The analysts also expect CMH's toll revenue and earnings in 2015 to steadily increase, driven by organic traffic volume expansion and the maiden full-year contribution from Jiurui Expressway, the newly-acquired toll road.