[ET Net News Agency, 4 February 2021] HSBC Global Research lifted its target price for
China Resources Gas (CRG) (01193) to HK$48 from HK$40 and upgraded its rating to "buy"
from "hold".
The research house said CRG has the highest exposure to Tier 1-2 cities among peers, and
hence a relative focus on gas sales to commercial customers, including hotels, airports,
office buildings, heat, data centres, etc.
HSBC's analysis suggests retail consumption in China is a leading indicator of
commercial demand for natural gas at CRG with a +0.97 correlation. The stock has
underperformed some of its peers and HSI since January 2020. At 15x PE for 2021, earnings
growth is looking to rebound. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
01193 CHINA RES GAS
Nominal 
24.150 +0.450 (+1.899%) Others
04/02/2021 16:57
{I-bank focus}HSBC ups China Resources Gas (01193) to HK$48
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
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