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01193 CHINA RES GAS
RTNominal up24.900 +0.750 (+3.106%)
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18/02/2019 10:26

[I-bank focus]Jefferies cuts CR Gas (01193) to HK$44

[ET Net News Agency, 18 February 2019] Jefferies Research trimmed its target price for
China Resources Gas (CRG)(01193) to HK$44 from HK$45.25 and maintained its "buy" rating.
The research house estimated 2H 2018 net income of HK$1.98Bn, an increase of 29% YoY,
mainly on strong gas volume, dollar margin recovery, and new connections release.
Jefferies expects higher than market consensus EPS for 2019/20, driven by city gas
sales. It trimmed its 2019 EPS estimate by 3% as a result of RMB depreciation and a
slowdown in new connections. (KL)

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