[ET Net News Agency, 27 March 2020] Daiwa Research raised its target price for Kunlun
Energy (00135) to HK$5.5 from HK$5.35 and upgraded its rating to "buy" from "outperform",
with an attractive 2020 dividend yield of 6.8%.
The research house said Kunlun's share price has fallen by 19% in March due to the
market liquidity crunch, likely caused by fund redemptions. As the Fed has offered a blank
QE check to address the global COVID-19 pandemic, Daiwa expects a near-term rebound of
overly-corrected names.
Daiwa expects pent-up demand to be released in 2Q, while industrial gas sales have
already seen a recovery on the back of the >90% resumption in industrial activities. In
addition, it said the Shaanxi-Beijing (SJ) pipeline spin-off story remains intact. Daiwa
expects Kunlun's 60% stake in the SJ pipeline to be spun off by 4Q before the
first-anniversary set-up of PipeChina. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00135 KUNLUN ENERGY
Nominal 
7.460 +0.090 (+1.221%) Others
27/03/2020 11:20
{I-bank focus}Daiwa upgrades Kunlun Energy (00135) to HK$5.5
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
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