[ET Net News Agency, 4 February 2021] HSBC Global Research lifted its target price for
China Gas Holdings (00384) to HK$36 from HK$35 and maintained its "buy" rating, given the
growth trajectory of operations is consistent with guidance.
The research house noted that new connections in rural areas for coal-to-gas (RCG)
projects have declined, but FCF turned positive, which should be read as a positive sign.
Management highlighted a few near to medium-term earnings catalysts, including (1)
strong gas demand during this winter; (2) the new smart microgrid strategy to accelerate
connections and distribution of LPG; and (3) the new share award scheme as an incentive
for business performance.
HSBC raised its 2021-23 net profit forecasts by 1-2%. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00384 CHINA GAS HOLD
Nominal 
6.500 -0.010 (-0.154%) Others
04/02/2021 16:48
{I-bank focus}HSBC lifts China Gas (00384) to HK$36
| Remark: | Real time quote last updated: 20/12/2024 17:59 |
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