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00934 SINOPEC KANTONS
RTNominal unchange4.260 0.000 (0.000%)
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19/10/2017 15:22

[I-bank focus]Goldman starts Sinopec Kantons at HK$6.5

[ET Net News Agency, 19 October 2017] Goldman Sachs initiated coverage on Sinopec
Kantons (00934) with a "buy" rating, and a target price of HK$6.5.
The research house said Sinopec Kantons is one of China's leading energy pipeline,
storage & logistics play, offering leverage to China's growing oil & gas import volume -
without direct exposure to oil & gas pricing, or E&P operational risks.
Kantons is well placed to benefit from growing oil throughput, terminal expansions and
gas market growth.
Goldman expects the EPS for Kantons to increase by +35%/+8% in FY2017 and FY2018. Any
contribution from the Indonesia (Batam/West Point) terminal would not be until the 2020
year at the earliest, however this represents potential upside to its forecasts. (KL)

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