China Gas (00384.HK) disappointed in its FY 2024 performance according to the report released by ICBCI. As the bank does not hold positive prospects for the profit of the company in FY 2025, the stock price may remain weak in the short term.
ICBCI lowered China Gas' profit forecast for FY 2025 and 2026 by 22% and 24%, respectively, after adjusting sales, new connections, and value-added business volume and profit assumptions. The target price has also been lowered from 7 yuan to 6.6 yuan. The stock is maintained with a "neutral" rating until there is a catalyst for the stock price.