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<Research>M Stanley: CHINA SHENHUA (01088.HK) Updated Div. Guidance/ Asset Injection Slightly Positive
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CHINA SHENHUA (01088.HK) announced a dividend payout ratio of no less than 65% for 2025-2027, higher than 60% for 2022-2024, Morgan Stanley released a research report saying.

As the Group's dividend payout ratio for 2022-2023 is 70%, Morgan Stanley believed that the new guidance indicates modest upside room for its dividend.

The broker believed that the Group's updated dividend guidance and asset injection are slightly positive, and rated the stock at Overweight, with a target price of $38.
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