[ET Net News Agency, 12 March 2018] Credit Suisse lifted its target price for Wharf
Holdings (00004) to HK$29.9 from HK$27.4 on a bigger equity investment portfolio, and
retained its "neutral" rating.
The research house said Wharf has invested Rmb27.9bn in China landbank since 2H 2017.
Its current scale, being 54% of FY2017 core profit, can be sustainable and reduces
earnings risk in medium term.
The company has also spent over HK$25bn on listed equities, mostly after the de-merger,
of which 60%/40% are in Internet/HK property stocks, with no more than six stocks in each
category. Wharf is also looking for opportunities in unlisted CME (communications, media
and entertainment) investments in mainland China and the US.
Credit Suisse revised its sales and booking schedule of its HK projects, raised FY2018/19
earnings forecasts by 2.8%/20.5%. (KL)
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00004 WHARF HOLDINGS
Nominal 
25.100 -0.050 (-0.199%) Others
12/03/2018 15:51
[I-bank focus]Credit Suisse lifts Wharf (00004) to HK$29.9
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