Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Real-Time Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
01083 TOWNGAS CHINA
RTNominal up5.500 +0.300 (+5.769%)
Others

10/09/2019 09:47

{I-bank focus}Daiwa lifts Towngas China (01083) to HK$6.3

[ET Net News Agency, 10 September 2019] Daiwa Research lifted its target price for
Towngas China (TCCL)(01083) to HK$6.3 from HK$6.25 and maintained its "outperform" rating.
The research house said TCCL's share price has risen by 11% in the past 3 weeks. There
is market speculation of a potential takeover of TCCL by China Resources Gas (CRG)
(01193).
Daiwa believes that this is only speculation and there is nothing concrete. CRG's
management denied any potential takeover deal, and while TCCL did not wish to comment on
the market rumour, it reiterated that TCCL remains an important part of the group's
strategy for its city-gas business in the PRC.
TCCL is currently trading at a 70% discount to HKCG's 36x 1-year forward PER and a 75%
discount to HK & China Gas' (HKCG)(00003) PBR. Thus, Daiwa believes the possibility of
privatisation by HKCG is a much more likely scenario. (KL)

Remark: Real time quote last updated: 12/12/2019 17:59
  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 2019 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.