0445 GMT - China Aviation Oil (Singapore) Corp. is likely to benefit from jet-fuel demand, UOB Kay Hian analysts say in a research report. The International Air Transport Association has projected Asia-Pacific region's air passenger volume will rise 5.1% in 2026, the analysts note. The increase in passenger traffic will probably support higher jet-fuel demand at major airports. The brokerage expects the jet-fuel supplier's 2H earnings recovery to be aided by drivers including normalization of jet fuel volumes and higher contributions from associates. It maintains the stock's buy rating but lowers the target price to 1.88 Singapore dollars from S$2.63 to reflect a valuation rollover. Shares are 1.4% lower at S$1.43.