Kunlun Energy hits 8-mth high, brokers up price target

Kunlun Energy

30/08/2018 06:13

** Shares of Hong Kong-based Kunlun Energy Company Ltd
 0135.HK  climb 5.7 pct to HK$8.47, the highest since Jan. 3, as
brokers raise their target prices after the oil and natural gas
distributor posts solid growth and improvement in H1 profit
    ** The stock trims gains to HK$8.32, still up 4 pct,
outpacing a 0.7 pct fall in the broader market  .HSI 
    ** The shares rank as the 10th most actively traded stock
    ** Jefferies raises price target 36 pct to HK$11.25, saying
it revises up FY19 earnings by 18 pct due to margin recovery in
natural gas and strong volume growth in the pipeline segment 
    ** Daiwa increases target price to HK$9.2 from HK$8, saying
it expects improvement in natural gas sales margin to continue
    ** Co posts 21.4 pct rise in H1 profit and a 21.8 pct jump
in revenue amid favourable policy  urn:newsml:reuters.com:*:nFWN1VJ0S2
    ** As of 0501 GMT, about 43.17 million shares of the natural
gas firm change hands, compared with their 30-day moving average
of 20.50 million shares a day
    

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