[ET Net News Agency, 17 February 2020] Daiwa Research lowered its target price for
Shenzhen International (SZI)(00152) to HK$18.6 from HK$19.5 and maintained its
"outperform" rating.
Due to the coronavirus outbreak, SZI's associate Shenzhen Airlines (SZA) cancelled many
domestic flights in February and international and regional flights from mid-February to
late March. As such, the research house expects SZA's earnings to decline significantly by
80% for 2020.
Daiwa cut its 2020-21 EPS by 15-17%, mainly due to earnings pressure at SZA. (KL)