[ET Net News Agency, 16 January 2018] Citi Research lowered its target price for China
Gas Holdings (CG)(00384) to HK$28.5 from HK$30, and maintained its "buy" rating.
The research house said CG remains its China gas top pick for its high (26%) FY2017-20
EPS CAGR, hence Citi views its 14.9x FY2019 (end 31 March) PER as attractive.
Citi lowered its net profit estimate by 2.6% for FY2018, but raised 4.8% for FY2019 due
to a shift in share option expenses. The company is allowed to book a maximum of HK$500m
for such stock expenses if the FY2018 net profit is HK$6bn (after netting the HK$500m
expense). (KL)
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00384 CHINA GAS HOLD
Nominal 
7.120 -0.060 (-0.836%) Others
16/01/2018 17:31
[I-bank focus]Citi lowers China Gas (00384) to HK$28.5
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