[ET Net News Agency, 29 April 2020] Credit Suisse lowered its target price for China
Gas Holdings (CGH)(00384) to HK$40 from HK$43 and maintained its "outperform" rating.
The research house noted that CGH has rallied 19% over the past two trading days, mainly
driven by the improved sentiment after the grant of management & employee share options.
Credit Suisse expects most of the COVID-19 impact to be reflected in CGH's FY2020
results, while earnings growth should re-accelerate to >20% in FY2021 (versus 14% in
FY2020 per Credit Suisse's estimate). It cut its FY2020-22 EPS forecasts by 8-9% mainly to
reflect slower project development due to COVID-19. (KL)
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00384 CHINA GAS HOLD
Nominal 
7.250 +0.130 (+1.826%) Research Report
29/04/2020 10:55
{I-bank focus}Credit Suisse trims China Gas (00384) to HK$40
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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