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Revisions

China Aviation Oil beats expectations to get an upgrade

Broker's Calls

China Aviation Oil beats expectations to get an upgrade

Benjamin Cher Published on Thu, Nov 03, 2016 / 11:45 AM GMT+8

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SINGAPORE (Nov 3): RHB is upgrading China Aviation Oil (CAO) to a “buy” with target price of $1.61 after the jet fuel supplier announced forecast-beating results.

(See also: China Aviation Oil reports 31% surge in earnings of US$23.2 mil)

In a Thursday report, analyst Shekhar Jaiswal notes that CAO’s performance was mainly driven by strong growth posted by associates.