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China Aviation Oil kept at 'buy' on positive growth outlook & compelling valuations

Michelle Zhu
Michelle Zhu5/30/2018 11:07 AM GMT+08  • 3 min read
China Aviation Oil kept at 'buy' on positive growth outlook & compelling valuations
SINGAPORE (May 30): RHB Research is maintaining its “buy” call on China Aviation Oil (CAO) with an unchanged target price of $1.80 or 11.9 times FY18F earnings.
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SINGAPORE (May 30): RHB Research is maintaining its “buy” call on China Aviation Oil (CAO) with an unchanged target price of $1.80 or 11.9 times FY18F earnings.

This comes after RHB hosted the group’s recently-appointed CFO, Xu Guohong, at a non-deal roadshow (NDR), where Xu reiterated the group’s focus on growing its core jet fuel business via higher investments in international operations.

In a Monday report, analyst Shekhar Jaiswal opines that CAO’s valuations remain compelling, considering how CAO's share price of $1.61 is 0.73 times FY18F PE growth.

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