[ET Net News Agency, 29 April 2020] Credit Suisse raised its target price for Kunlun
Energy (00135) to HK$6.5 from HK$5.5 and maintained its "outperform" rating.
The research house said Kunlun's downstream gas sales volume was robust year-to-date
despite COVID-19 and achieved +20% in 1Q, an acceleration versus +15% in the first 2
months of 2020, in part helped by a low base last year. As work resumption continues this
should support Kunlun's gas volume growth, bringing it on track to achieve the +15% target
for 2020.
Apart from downstream gas, Credit Suisse said Kunlun's other segments have also
witnessed notable improvement in March/April. LNG Terminal utilisation has reached 75% of
late and is tracking higher than the 65-70% target for 2020. LNG Processing Plant
utilisation has also improved higher than 44% in 2019. (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 0.000 (0.000%) Others
29/04/2020 11:20
{I-bank focus}CS raises Kunlun Energy (00135) to HK$6.5
| Remark: | Real time quote last updated: 25/04/2024 07:55 |
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