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China Aviation Oil kept at 'buy' by RHB with air traffic growth

PC Lee
PC Lee5/28/2019 11:26 AM GMT+08  • 2 min read
China Aviation Oil kept at 'buy' by RHB with air traffic growth
SINGAPORE (May 28): RHB Research says the decline in China Aviation Oil’s share price in the last one month is unwarranted.
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SINGAPORE (May 28): RHB Research says the decline in China Aviation Oil’s share price in the last one month is unwarranted.

Market seems overly concerned about a slowdown in China’s aviation traffic, despite passenger traffic growing by 3.9% y-o-y in April.

“However, aided by growth in China’s international passenger traffic as well as capacity expansion at Shanghai Pudong International Airport (SPIA), we remain positive on CAO’s long-term earnings growth prospects,” says analyst Shekhar Jaiswal.

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