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RTNominal down1.230 -0.080 (-6.107%)

05/03/2020 11:29

{I-bank focus}Goldman cuts HutchTel HK (00215) to HK$1.58

[ET Net News Agency, 5 March 2020] Goldman Sachs lowered its target price for Hutchison
Telecommunications HK (00215) to HK$1.58 from HK$1.62 and maintained its "neutral" rating.
The research house said HutchTel's 2019 results were broadly in line with estimates. The
full-year dividend implied 75% dividend payout ratio. On the back of the results, Goldman
revised its earnings forecast by -6.3% to +10.8% for 2020-22 to reflect lower revenue
prospects (mainly from lower handset sales) and improving cost control.
HutchTel plans to re-farm some of the existing spectrum band for 5G coverage, and aims
to launch its 5G commercial service in 2Q. (KL)

Remark: Real time quote last updated: 22/05/2020 17:58
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