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The new Austrian gas (02688-HK) is now down 2.81%, at HK $12.44, with a turnover of HK $8.8524 million, which is now largely synchronized with the city, with the index falling 2.86%. Nomura reiterated the purchase rating of the unit and raised its target price from HK $11 to HK $15.1. The bank said that the new Austrian 10 expected P/E ratio was only 12 times times lower than the average 16 times times the level of the same industry, taking into account its free cash flow, strong shareholder returns and high profitability visibility, which are considered low valuations. The bank also indicated that the natural growth of the new Austrian business could lead to a double-digit increase in earnings per share, while the compressed natural gas business could be the new driving force for profitable growth.
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