Damo: Maintaining China Resources Gas (01193)'s “Overweight” Rating and Raising the Target Price to HK$34.1

Zhitongcaijing · 09/23 02:49

The Zhitong Finance App learned that Morgan Stanley released a research report saying that it raised the target price of China Resources Gas (01193) by 2% from HK$33.4 to HK$34.1, mainly reflecting better profit forecasts and maintaining the “gain” rating. Both pessimistic and optimistic assumptions about the company were raised by 2%, mainly due to higher earnings forecasts per share.

Damo said that China Resources Gas's profit forecast for 2024-2026 was raised by 2%, taking into account the actual performance for the first half of 2024. The main reason was that the profit margin forecast was better and the valuation was extended to 2025 and at a price-earnings ratio of 13 times the price-earnings ratio for 2024, which was 14 times the price-earnings ratio for 2024.