China Aviation Oil's Earnings Likely to be Stronger in 2H

Dow Jones08-19

0622 GMT - China Aviation Oil (Singapore) Corp.'s earnings are likely to be stronger in 2H, based on management's guidance, CGS International analysts say in a note. Drivers include stronger income at the jet-fuel trader on the back of jet-fuel trading volume recovery and continued growth in the sustainable aviation fuel market, the analysts say. There are also potential incremental trading flows as CAO integrates into Sinopec's value chain following the Sinopec-China National Aviation Fuel Group merger. The brokerage maintains the stock's add rating, but lowers the target price to 2.45 Singapore dollars from S$2.68 to reflect a lowered P/E multiple assumption for CAO associate Shanghai International Airport. Shares are unchanged at S$1.62.

 

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment