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Brokers' take

China Aviation Oil Singapore | Buy
Target price: S$1.90
June 28 close: S$1.665

RHB Research, June 28

After generating 20 per cent year-to-date return, CAO's share price has been trading sideways amid a lack of M&A-related announcements. However, we maintain that it is on track to deliver strong organic growth over 2017-2019, aided by the rapidly-growing Chinese aviation market and increased business diversification.

Maintain "buy" as the stock continues to trade at undemanding valuations (0.68 times...

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