[ET Net News Agency, 29 July 2020] Credit Suisse raised its target price for Hutchison
Telecommunications HK (HutchTel)(00215) to HK$1.7 from HK$1.5 and maintained its
"outperform" rating.
The research house said HutchTel's 1H service revenue declined by 6.6% as expected,
since the 1.3% growth in local service revenue was unable to offset the 38.3% drop of
roaming revenue induced by the COVID-19 lockdown.
Despite pressure on service revenue, aggressive cost control allowed EBITDA and adjusted
earnings to decline by just 1.1% and 3%, respectively. Factoring in aggressive cost
control, Credit Suisse revised up its FY2020 and FY2021 EBITDA forecasts by 25.7% and
15.2%, and hence its earnings estimates by 165% and 99.9% (magnified by low net margin).
(KL)
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00215 HUTCHTEL HK
Nominal 
1.010 0.000 (0.000%) Others
29/07/2020 17:17
{I-bank focus}Credit Suisse raises HutchTel HK to HK$1.7
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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