Citigroup cuts China Longyuan (HKG:0916) profit est 9-11%


Citigroup has cut its 2011-12 earnings estimates for China Longyuan Power (HKG:0916) by 9-11% and cut the stock's price target from HK$7.9 to HK$7.6.

For 2011, 2012 and 2013, Citigroup expects the company to report net profits of RMB2.306 billion, RMB2.926 billion and RMB3.234 billion respectively. The brokerage rates the stock "Buy".

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