[ET Net News Agency, 27 November 2019] Huatai Research lifted its target price for
China Gas (00384) to HK$41 from HK$38 and maintained its "buy" rating.
The research house said the Russia-China gas pipeline which Huatai expects to start
operation by the end of this year will promote natural gas consumption growth in northern
China first.
Huatai thinks the upcoming Russian gas will drive its gas sales volume growth and lower
cost for its projects in northern China. It thinks the coal-to-gas business will continue
to benefit from tightening environmental policy in China.
Huatai lifted its earnings forecasts for FY2020/FY21 by 4/5% to reflect higher gas sales
volume growth and higher earnings contribution from the value-added services business.
(KL)
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00384 CHINA GAS HOLD
Nominal 
7.120 -0.060 (-0.836%) Others
27/11/2019 14:10
{I-bank focus}Huatai lifts China Gas (00384) to HK$41; "buy"
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