[ET Net News Agency, 28 November 2023] HSBC Global Research lowered its target price
for China Gas Hold (00384) to HKD7.4 from HKD7.7 and maintained its "hold" rating.
The research house said it lowers industrial gas volume growth from +2% YoY to -2% YoY.
It also lowers new residential connections forecasts to 1.6m for FY24e (previous: 1.8m),
in line with management's revised guidance of 1.5-1.7m. (RC)