HONG KONG – Despite an earlier lowering of price target and maintaining of sell call by Goldman Sachs, Hong Kong & China Gas (HKG:00003)’s stock managed to inch higher in today’s trading on the Hong Kong Stock Exchange.
HK & China Gas (HKG:00003) topped the blue chip stocks today with a gain of 1.163 percent, to end the day trading at HK$15.66 a share. It even managed to break its one-month high by reaching an intraday high of 15.68.
The company’s stock also saw a total turnover of 148.77 million in today’s trading.
The slight gain by HK & China Gas (HKG:00003) came two days after Goldman Sachs lowered its target price to HK$13.5 from HK$13.64 and maintained its “sell” call.
The research house said HKCG’s H1 results were below its expectations, mainly due to slowing China gas sales growth and lackluster New Energy performance. – BusinessNewsAsia.com