[ET Net News Agency, 23 October 2020] Morgan Stanley lifted its target price for
Sinopec Kanton (00934) to HK$3.4 from HK$2.96 and maintained its "equal-weight" rating.
The research house raised its earnings forecasts on Sinopec Kanton for 2020 by 53% to
reflect the one-off gain from the sale of Yuji Line while Morgan trimmed its 2021 and 2022
earnings estimates by 13-14% to eliminate the earnings contribution from such an asset
after the disposal.
Morgan said Sinopec Kanton's fundamental earnings remain solid. It expects overall
resiliency in 2020-2021. The company's jetty business has a stable business model and
long-term growth potential. LNG shipping is a stable growth driver, with all eight LNG
vessels operational since 2019. (KL)
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00934 SINOPEC KANTONS
Nominal 
3.900 -0.030 (-0.763%) Research Report
23/10/2020 17:46
{I-bank focus}Morgan lifts Sinopec Kanton (00934) to HK$3.4
| Remark: | Real time quote last updated: 18/04/2024 17:59 |
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