In a Friday report, analyst Edison Chen observes how there was some slight negative impact on the group’s associate performance over the quarter due to the renminbi moving weaker against the US dollar, which led to associate contributions dropping 5.5% to US$18.3 million to offset overall gains from other associates.
SINGAPORE (July 28): UOB Kay Hian is maintaining its “buy” call and target price of $2.26 for China Aviation Oil (CAO), leaving its 2017-2019 forecasts unchanged as the group yesterday delivered its 2Q results in line with expectations.
