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RTNominal down22.800 -0.300 (-1.299%)
Research Report

29/06/2020 09:46

{I-bank focus}BOCOM lowers China Gas (00384) to HK$31.4

[ET Net News Agency, 29 June 2020] BOCOM Research lowered its target price for China
Gas Holdings (CGH)(00384) to HK$31.4 from HK$36.5 and maintained its "buy" rating.
The research house said CGH's FY2020 earnings were in line with expectations. Free cash
flow (FCF) was HK$-3bn. CGH now targets AR (accounts receivable) collection of HK$8bn-9bn
in FY2021, which should help to bring FCF to the breakeven level.
BOCOM cut its FY2021/22 EPS forecasts by 7.6%/6.5% to factor in a more conservative
outlook on both gas sales and new connections. (KL)

Remark: Real time quote last updated: 07/08/2020 17:58
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