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<Research>BofAS Initiates Coverage on HK & CHINA GAS w/ Rating Underperform; Earnings Outlook Improved, But Not Enough to Cover Div.
Recommend 4 Positive 8 Negative 9 |
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BofA Securities has published a research report initiating coverage on HK & CHINA GAS (00003.HK) with an Underperform rating and a target price of HKD6.5. While HK & CHINA GAS' earnings outlook for this year has improved thanks to lower gas costs, BofA Securities believes its free cash flow is still insufficient to cover dividends, which are likely to remain stable at most in the coming years. AAStocks Financial News |
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