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RTNominal down34.650 -0.300 (-0.858%)

12/06/2020 17:17

{I-bank focus}Nomura increases CR Gas Group (01193) to HK$44

[ET Net News Agency, 12 June 2020] Nomura increased its target price for China
Resources Gas Group (CRG)(01193) to HK$44 from HK$41 and maintained its "neutral" rating.
The research house raised its 2020/21 earnings by 3%/5% on better dollar margin
assumptions. Its latest EPS forecasts take into consideration the dilution effect as CRG
issued 90mn new shares on 25 May 2020.
Nomura's analysis of industry data indicates a high probability of PetroChina (00857)
raising citygate gas price by only 3% in 3Q 2020 and even lower off-contract gas price by
10% for the upcoming winter to stimulate gas consumption in the current weak environment.

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