[ET Net News Agency, 17 April 2020] UBS Global Research lowered its target price for
China Resources Gas (CRG)(01193) to HK$44 from HK$50.5 and downgraded its rating to
"neutral" from "buy" on its high valuation.
The research house cut its 2020-22 EPS estimates for CRG by 18%/12%/11% to factor in
weaker demand due to slower economic activity amid COVID-19. It estimated 2020-22 earnings
CAGRs of 15% for CRG.
UBS believes the dividend outlook remains intact. CRG management said it will increase
its dividends in absolute terms in 2020. UBS estimated a positive FCF of HK$2.2bn in 2020
for CRG. (KL)
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01193 CHINA RES GAS
Nominal 
24.900 +0.750 (+3.106%) Research Report
17/04/2020 15:24
{I-bank focus}UBS downgrades CR Gas (01193) to HK$44
| Remark: | Real time quote last updated: 25/04/2024 18:00 |
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