RHB Research have maintained its “buy” call on China Aviation Oil (CAO) with a raised target price of $1.15 from $1.05 as they expect domestic air traffic to improve even after the Golden Week holidays. 

According to the Civil Aviation Administration of China, during the Golden Week holidays, China saw 13.3 million passenger trips, and the average daily passenger traffic and average daily flight volume reached 91% and 90% of the same period last year.

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