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Is China Aviation Oil's 3Q earnings miss a cause for concern?

Stanislaus Jude Chan
Stanislaus Jude Chan11/3/2017 04:13 PM GMT+08  • 3 min read
Is China Aviation Oil's 3Q earnings miss a cause for concern?
SINGAPORE (Nov 3): Analysts are divided over China Aviation Oil (CAO) after the group saw its earnings fall for the first time in 10 quarters in the 3Q ended September.
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SINGAPORE (Nov 3): Analysts are divided over China Aviation Oil (CAO) after the group saw its earnings fall for the first time in 10 quarters in the 3Q ended September.

RHB Research downgraded the stock to “neutral” with a lower target price of $1.80, from its previous “buy” recommendation with a $1.90 target.

“To account for weak profits from its trading business, we lower CAO’s 2017 net profit estimate by 8% to US$95 million (from US$104 million),” says RHB analyst Shekhar Jaiswal in a Friday report.


See: China Aviation Oil’s 3Q revenue up but earnings down 8%

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