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Baoshan Iron &Steel:Moving to Rating Suspended

发布时间:2016-09-09    研究机构:高盛高华证券

Moving to Rating Suspended

We have suspended our investment rating and price target on BaoSteel(600019.SS) because there is currently not a sufficient basis fordetermining an investment rating or price target for the company.

On June 27, 2016, the company announced a trading suspension due to apotential asset restructuring at the group level. As a result, our previousinvestment rating and price target are no longer in effect and should not berelied upon. We will continue to evaluate BaoSteel’s fundamentals,monitor the company’s potential asset restructuring, and maintain ourearnings estimates.