Year-to-date, flight traffic at the Shanghai Pudong International Airport (SPA) is already moving ahead of Jaiswal’s expectations, he says.
RHB analyst Shekhar Jaiswal has maintained his “buy” call on China Aviation Oil (CAO) with a higher target price of $1.25 from $1.15, representing yield of 4% according to his FY2020F estimates.
The higher target price comes amid expectations of continued improvement in China’s aviation traffic in 2021.
