[ET Net News Agency, 9 September 2020] Daiwa Research raised its target price for Hong
Kong & China Gas (HKCG)(00003) to HK$10.7 from HK$10.5 and upgraded its rating to "hold"
from "underperform" on positive recovery trends of all three major businesses.
The research house expects HKCG's HK towngas sales volume drop to slow from 4% in
7-month to 2.7% during August-December, after the containment of the third wave of
COVID-19 in Hong Kong.
From 11 September, HK's social distancing policy will be relaxed to 4 people for
catering, and hence, Daiwa expects commercial gas sales volume drop, which stood at 20% in
7-month, to bottom out soon. It raised its 2020-22 EPS forecasts slightly by 0.3-0.4%.
(KL)
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00003 HK & CHINA GAS
Nominal 
5.660 -0.030 (-0.527%) Others
09/09/2020 10:01
{I-bank focus}Daiwa raises HK & China Gas (00003) to HK$10.7
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