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DBS: Towngas Smart Energy – Buy Target Price HK$4.80

Posted on August 9, 2022August 9, 2022 By alanyeo No Comments on DBS: Towngas Smart Energy – Buy Target Price HK$4.80

Transformation continues

• Lower assumptions in gas volume growth to 8.2% and dollar margin to Rmb0.46/cm for FY22 
• 500MW of contracts signed for rooftop PV business; on track to achieve installation of 1GW by year end
• FY22/23 core earnings revised down 12%-13% 
• Maintain BUY with lower TP of HK$4.80 on good visibility of decarbonisation pathway

Towngas-Smart-Energy_2-Aug-2022_HK_CUClick here to Download Full Report in PDF

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Research - Equities Tags:Towngas Smart Energy

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