China Resources Gas hits 6-mth high, brokers raise target price

China Resources Gas

26/03/2019 04:08

** Shares of natural gas distributor China Resources Gas
Group Ltd  1193.HK  rise as much as 3 pct to HK$35.50, the
highest since Sept. 21, after brokers raise target price
    ** Daiwa upgrades China Resources Gas to "outperform" from
"hold" and raises target price to HK$36 from HK$32.50, saying
the company's greenfield projects acquired in 2012 have come to
harvesting stage and payout likely to rise due to strong balance
sheet 
    ** Nomura raises target price to HK$39.1 from HK$38.70,
saying the company remains its top pick in China gas sector with
2018 earnings in line and higher dividend
    ** As of last close, the stock has risen 11.1 pct so far
this year
    ** China Resources Gas has outperformed the Hang Seng
Commerce & Industry Index sector  .HSNC  by 4.1 percentage
points in the past one month
    ** The Hang Seng China enterprises index  .HSCE  edges down
0.1 pct and the benchmark index  .HSI  gains 0.1 pct
    

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)