[ET Net News Agency, 26 September 2019] Goldman Sachs raised its target price for China
Gas Holdings (00384) by 2.5% to HK$36.5 and upgraded its rating to "buy" from "neutral".
The research house toured Heilongjiang with China Gas management (led by founder Mr.
Liu), and come away with a better appreciation for the gas demand potential - once the new
Russian gas pipeline supplies commence (early December).
Goldman said China Gas has assembled a dominant presence in the region and outlined the
potential to grow its northeast volume 10x to 2030 (from 2bcm to 20bcm, gross). China Gas
sees the largest opportunities in the replacement of coal boilers at large industrial
plants & commercial customers, and also centralised residential heating projects
(conversion subsidies can be obtained by the customers). (KL)
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00384 CHINA GAS HOLD
Nominal 
7.180 +0.180 (+2.571%) Others
26/09/2019 10:06
{I-bank focus}Goldman upgrades China Gas (00384) to HK$36.5
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
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