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The securities dealer set Guangshen Railway's target H-share price at 4 Hong Kong dollars, equaling 16.8 times of its predicted P/E ratio in 2008.
Taifook pointed out that other railway assets might postpone their listing before Guangshen Railway obtains reasonable value.
Thanks to the average 5-11 percent price rise on domestic railway transportation, Guangshen Railway's average revenue per passenger in the first half grew by 4 percent year on year to 80 yuan. Its average revenue from cargo transportation also rose by 5 percent year on year to 18.4 yuan per ton.
H-share of Guangshen railway closed at 2.6 Hong Kong dollars Friday, down 5.45 percent.
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