[ET Net News Agency, 3 December 2018] Nomura lifted its target price for China Gas
Holdings (00384) to HK$33.8 from HK$31.8 and maintained its "buy" rating.
The research house expects China Gas to supply gas to 1mn rural households this fiscal
year versus 0.4mn last year. Average gas consumption per rural household was limited by
supply bottleneck - 635cm last year was much lower than 1,200cm required for the winter
-and is set to increase as the government prioritises supply of residential gas this
winter.
Nomura forecast total residential gas volume to grow by 27% CAGR over FY2018-21, and
rural households to contribute 59% of incremental residential volume growth or 20% of
total incremental gas volume growth. (KL)
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00384 CHINA GAS HOLD
Nominal 
6.890 -0.120 (-1.712%) Others
03/12/2018 12:32
[I-bank focus]Nomura lifts China Gas (00384) to HK$33.8
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