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Edison Investment Research Limited Edison Investment Research Limited: Edison issues outlook on China Water Affairs Group (855) 08-Aug-2018 / 13:16 GMT/BST London, UK, 8 August 2018 *Edison issues outlook on China Water Affairs Group (855)* China Water Affairs Group (CWA) is well positioned to take advantage of the favourable trends that we expect in the Chinese water and sewage market. CWA's portfolio of water assets, experienced team, stable financial position and impressive track record should enable the company to continue to grow returns for shareholders. Following the recent NDRC announcement, we have revised our forecasts (FY19e EPS HK$0.815 vs HK$0.762 previously), taking a more optimistic view on the scope for tariff increases and we also revise our minority interest charge. Blended peer group multiples indicate a valuation for CWA of c HK$10.7/share. Applying only peer group P/E multiples, CWA's valuation would rise to HK$11.7/share (FY19) and HK$12.4/share (FY20). The two-year PEG ratio is c 0.9x (at HK$11/share). Click here [1] to view the full report. All reports published by Edison are available to download free of charge from its website www.edisoninvestmentresearch.com [2] *About Edison:* Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting. Edison is authorised and regulated by the Financial Conduct Authority [3]. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. *For more information please contact Edison:* Graeme Moyse, +44 (0)20 3077 5700 Industrials@edisongroup.com Learn more at www.edisongroup.com [4] and connect with Edison on: LinkedIn https://www.linkedin.com/company/edison-investment-research [5] Twitter www.twitter.com/Edison_Inv_Res [6] YouTube www.youtube.com/edisonitv [7] Dissemination of a CORPORATE NEWS, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement. End of Announcement - EQS News Service 712127 08-Aug-2018 1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=3505b8871c1533c8e12ce12f8e030666&application_id=712127&site_id=vwd&application_name=news 2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=e7266211cbf0b72f2b3d94ab8bdaae97&application_id=712127&site_id=vwd&application_name=news 3: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=105fe9be9b5e36892886e5a39d51d4b7&application_id=712127&site_id=vwd&application_name=news 4: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=88c95533002fab2316572f9ef6cf3cc6&application_id=712127&site_id=vwd&application_name=news 5: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=edc5483da45ef361071849742dbf1595&application_id=712127&site_id=vwd&application_name=news 6: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=ec2d264fe4f303e2143a2e85c6eaa823&application_id=712127&site_id=vwd&application_name=news 7: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=6b959e4d7ee3c402b931a274d2bbe945&application_id=712127&site_id=vwd&application_name=news
(END) Dow Jones Newswires
August 08, 2018 08:16 ET (12:16 GMT)
