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‘Star’ of China Aviation Oil to sustain group earnings in the medium-term

Michelle Zhu
Michelle Zhu7/28/2017 03:11 PM GMT+08  • 2 min read
‘Star’ of China Aviation Oil to sustain group earnings in the medium-term
SINGAPORE (July 28): UOB Kay Hian is maintaining its “buy” call and target price of $2.26 for China Aviation Oil (CAO), leaving its 2017-2019 forecasts unchanged as the group yesterday delivered its 2Q results in line with expectations.
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SINGAPORE (July 28): UOB Kay Hian is maintaining its “buy” call and target price of $2.26 for China Aviation Oil (CAO), leaving its 2017-2019 forecasts unchanged as the group yesterday delivered its 2Q results in line with expectations.


See: China Aviation Oil 2Q earnings up 4% at $33.4 mil on higher revenue

In a Friday report, analyst Edison Chen observes how there was some slight negative impact on the group’s associate performance over the quarter due to the renminbi moving weaker against the US dollar, which led to associate contributions dropping 5.5% to US$18.3 million to offset overall gains from other associates.

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