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RTNominal down10.800 -0.700 (-6.087%)

30/10/2020 16:43

{I-bank focus}Citi lowers SJM Holdings (00880) to HK$10.5

[ET Net News Agency, 30 October 2020] Citi Research lowered its target price for SJM
Holdings (00880) to HK$10.5 from HK$11.5 and maintained its "buy" rating.
SJM reiterated that construction work on Grand Lisboa Palace (GLP) has been completed.
The group is currently waiting for the government to carry out final inspections.
Reflecting 3Q results, conservative assumption for a March 2021 opening for GLP, and the
latest operating trends, Citi lowered its FY2020-22 earnings forecasts by 2-31%.
But the research house continues to believe the market still under-appreciates the
potential earnings enhancement from GLP. It said any near-term share price correction
would present an enhanced buying opportunity. (KL)

Remark: Real time quote last updated: 26/02/2021 17:59
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