[ET Net News Agency, 19 March 2018] Citi Research lifted its target price for Swire
Pacific (00019) to HK$95 from HK$90 after marking Swire's listed subsidiaries to market,
and reiterated its "buy" rating.
The research house raised its FY2018-19 earnings forecasts by 1-4% reflecting FY2017
results and latest operating trends. Citi expects profit from Beverages to grow 27% in
FY2018, largely reflecting the first full-year contributions from the new franchise
territories. It also expects SPO's operating loss to narrow to HK$408m in FY2018 and
HK$250m in FY2019. Citi remains hopeful that SPO can break even by FY2020. (KL)