-- Changshu Fengfan Power Equipment (SHA:601700) is looking to offload a 60% stake in Suzhou Jingying Optoelectronics Technology for 178.8 million yuan on the Jiangsu Provincial Property Exchange.
The valuation took into consideration the impact of the March 27 fire in the cleaning area of Jingying's slicing workshop, the filing said.
Jingying's appraised value was 298 million yuan prior to the fire.
The final listing price will be determined based on the listing results.
RBC Capital Markets on Wednesday reiterated Suncor Energy's (SU.TO) outperform rating and C$100 price target, with the bank noting the company delivered another quarter of "robust performance" punctuated by a "jumbo-sized" downstream pre-tax margin of $2 billion (including FIFO gains) in part driven by record refined product sales of 680,900 bbl/d.RBC's updated production outlook of 862,100 bbl/d, anchored by a $5.7 billion capital program, remains relatively unchanged."Suncor's first-quarter results reinforced our confidence that its culture of sustained high performance is taking deep root and enabling the company to be on the podium, come what may," RBC said. "We believe the ingredients are in place for the company to earn a premium relative valuation, conceivably over the next year," RBC added.Suncor is RBC's favorite integrated producer in Canada and is part of its Global Energy Best Ideas list.Suncor traded at $85.70 per share at last look Thursday on the Toronto Stock Exchange.Price: $85.70, Change: $-2.21, Percent Change: -2.51%
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