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China Aviation Oil kept at 'buy' by RHB on long-term growth of China's aviation passenger traffic

Samantha Chiew
Samantha Chiew6/11/2019 11:48 AM GMT+08  • 2 min read
China Aviation Oil kept at 'buy' by RHB on long-term growth of China's aviation passenger traffic
SINGAPORE (June 11): RHB is reiterating its “buy” call on China Aviation Oil (CAO) with a target price of $1.60.
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SINGAPORE (June 11): RHB is reiterating its “buy” call on China Aviation Oil (CAO) with a target price of $1.60.

RHB remains upbeat on the long-term growth of China’s aviation passenger traffic, in line with its rising per capita income and expanding aviation infrastructure.

"We conservatively expect CAO’s near-term earnings to be driven by increasing jet fuel supply to China and more jet fuel being pumped by Shanghai Pudong International Airport (SPIA), which accounts for 65% of pre-tax profit," says analyst Shekhar Jaiswal in a Tuesday report.

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