China Aviation Oil (CAO)

SINGAPORE (Aug 2): RHB is reiterating its “buy” recommendation on China Aviation Oil (CAO) with a target price of $1.80. CAO is also the research house’s Singapore Top Picks.

SINGAPORE (Aug 1): China Aviation Oil reported 2Q18 earnings ended June increased 14.4% to US$29.30 million ($40 million) compared to 2Q17, mainly due to higher gross profit and stable profit contributions from associates.

SINGAPORE (July 2): China Aviation Oil (CAO) announced that it has acquired Navires Aviation Limited (NAL) for a consideration of US$8 million ($10.9 million) from Castleton Commodities Merchant Trading.

SINGAPORE (June 20): CGS-CIMB Research is keeping its “add” call on China Aviation Oil (CAO) with an unchanged target price of $2.03, after the jet fuel trader signal its intention to streamline its associate portfolio.

SINGAPORE (June 19): China Aviation Oil (CAO) intends to divest its entire remaining 39% stake in its associated company China Aviation Oil Xinyuan Petrochemicals, a limited liability company in China.

SINGAPORE (May 30): RHB Research is maintaining its “buy” call on China Aviation Oil (CAO) with an unchanged target price of $1.80 or 11.9 times FY18F earnings.

SINGAPORE (May 10): China Aviation Oil (CAO) yesterday announced that its 1Q18 earnings have increased by 13.9% y-o-y to US$26.91 million ($36.1 million) from a year ago, mainly contributed by a higher share of results from its associated companies.

SINGAPORE (Apr 3): Edison Investment Research has lowered its fair value on China Aviation Oil (CAO) to $1.82 from $1.88 after the research house rolled forward its peer group and DCF-based valuations by a year.

SINGAPORE (Mar 20): RHB has upgraded China Aviation Oil (CAO) to "buy" from "neutral" convinced of the group's return to earnings growth in 2018 after a meeting with management.

SINGAPORE (Mar 2): Phillip Capital is reiterating its “buy” recommendation on China Aviation Oil (CAO) with a target price of $2.00.