[ET Net News Agency, 25 February 2020] Daiwa Research lowered its target price for
Guangdong Investment (GDI)(00270) to HK$17.3 from HK$18.3 and maintained its "outperform"
rating.
The research house thinks GDI's cash flow remains healthy with an 8% growth in the DPS
in 2019-21. Daiwa expects the overhang of the 2021-23 Dongjiang water price for HK to be
removed by October 2020.
With the coronavirus outbreak in early 2020, Daiwa expects GDI's shopping malls,
department stores, and hotels to be impacted (accounted for 14% of GDI's EBIT in 9-month
2019). As an SOE under the Guangdong government, GDI may need to reduce the rent for
tenants of its shopping malls. However, Daiwa expects this to be a one-off impact in 2020
and does not see it continuing into 2021. (KL)
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00270 GUANGDONG INV
Nominal 
0.000 (0.000%) Research Report
25/02/2020 14:54
{I-bank focus}Daiwa lowers Guangdong Investment to HK$17.3
| Remark: | Real time quote last updated: 25/04/2024 07:40 |
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