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00215 HUTCHTEL HK
RTNominal up1.570 +0.010 (+0.641%)
Others

02/08/2019 14:28

{I-bank focus}CS cuts HutchTel HK (00215) to HK$1.85

[ET Net News Agency, 2 August 2019] Credit Suisse cut its target price for Hutchison
Telecommunications HK (00215) to HK$1.85 from HK$1.95 but upgraded its rating to "neutral"
from "underperform".
The research house said HutchTel's 1H service revenue declined by 3% to HK$1.8bn, due to
the decline in local post-paid revenue. 1H19 net profit is 49% of 2019 Credit Suisse's
estimates.
Credit Suisse expects HutchTel's mobile service revenue decline to continue in 2019 and
2020 given the weaker branding position and ongoing competition in the low-end segment.
Its current valuation appears reasonable with the cash on balance sheet providing
downside support. Credit Suisse reduced its 2019-21 EPS estimates by 0-3% given the
weakness in service revenue. (KL)

Remark: Real time quote last updated: 17/01/2020 17:59
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