Citi Research reaffirmed a Buy rating for BJ ENT WATER (00371.HK) due to several positive factors. They raised the target price from $2.65 to $2.85 and increased their net profit forecasts for 2025-2027 by 1-2% because of lower financial costs. The firm anticipates that the company will generate approximately RMB1 billion in positive free cash flow annually, which will be allocated for dividends and debt repayment. Additionally, improvements in the cash recovery situation of the company's accounts receivable, along with expected annual dividend growth of 3-5% in 2025, further support the positive outlook.
