Brokers' take

China Aviation Oil (S) Corp | Buy Target price: S$1.98 March 1 close: S$1.51 DBS Group Research, March 1

We continue to like China Aviation Oil (CAO) given its monopolistic position as the sole importer of bonded jet fuel into China, and for its 33 per cent stake in the exclusive jet fuel refueller at Shanghai Pudong International Airport.

It also has a growing international jet fuel supply and trading business that will increasingly benefit from CAO's greater scale. It is a beneficiary of growing air travel demand both in China and globally as well.