BEIJING (AFX-ASIA) – Standard & Poor’s Equity Research said it has initiated coverage of Shenergy Co Ltd (SH A 600642) with a ‘sell’ recommendation and a price target of 11 yuan, indicating downside of some 13.6%. (US$1=8.28 yuan). It said the company’s current share price has overshot its fair value. S&P expects Shenergy’s earnings to…

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