Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
00384 CHINA GAS HOLD
RTNominal down6.190 -0.010 (-0.161%)
Others

19/07/2018 14:23

[I-bank focus]UBS lifts China Gas (00384) to HK$29.3

[ET Net News Agency, 19 July 2018] UBS Global Research lifted its target price for
China Gas Holdings (00384) to HK$29.3 from HK$22.5, and reiterated its "sell" rating.
The research house thinks the company's strong growth, driven by rural coal-to-gas
switching, has been fully factored in by the market. The share price has increased by 172%
over the past 12 months. Both 12-month forward PE (19.7x) and P/BV (4.5x) are at
historical high levels and a premium to peers.
While some may argue that the valuation is supported by the company's higher growth and
ROE, UBS thinks it is largely due to its higher proportion of connection fee income and
higher gearing. UBS raised its FY2019 earnings forecast by 8% and FY2020 earnings estimate
by 9%, mainly to reflect stronger gas sales volume growth. It also increased FY2018-21
city gas sales volume CAGR from 23% to 27%, in expectation of higher contribution from
rural coal-to-gas switching users. (KL)

Remark: Real time quote last updated: 23/09/2024 17:07
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2024 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.