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00135 KUNLUN ENERGY
RTNominal down6.530 -0.130 (-1.952%)
Others

21/01/2021 10:20

CCBIS lifts Kunlun Energy (00135) to HK$9; "outperform"

[ET Net News Agency, 21 January 2021] CCB International Securities (CCBIS) lifted its
target price for Kunlun Energy (00135) to HK$9 from HK$7.3 and maintained its "outperform"
rating in view of its cheap valuation against peers even after the disposal of midstream
gas assets.
The research house expects the company's efforts in city gas business expansion and
improvement in earnings visibility could support a long term re-rating. CCBIS raised its
2020 earnings forecasts by 2% but slashed its earnings forecasts after 2020 by 31%-43%. It
also factored in Kunlun's net cash position following the disposal. (KL)

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