[ET Net News Agency, 26 November 2019] Goldman Sachs lifted its target price for China
Gas (00384) to HK$37 from HK$36.5 and maintained its "buy" rating.
The research house said China Gas' interim result of HK$4.9bn was 3% stronger than
Goldman's estimate, led by better than expected connection fees with the surprise this
time came from urban connections.
Goldman also thinks the stronger urban connection trends demonstrate China Gas is
employing several key strategies (including M&A, 10-20 projects p.a. still targeted) to
continue driving strong volume & earnings growth.
It raised its EPS forecasts by 1-3% in FY2020-22 to incorporate the interim 1H FY2019/20
result and stronger urban connections, partly offset by slowing rural connections and LPG
sales. (KL)
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00384 CHINA GAS HOLD
Nominal 
7.180 +0.180 (+2.571%) Others
26/11/2019 15:30
{I-bank focus}Goldman lifts China Gas (00384) to HK$37
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
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