[ET Net News Agency, 6 August 2018] Citi Research raised its target price for Hongkong
and Shanghai Hotels (HSH)(00045) to HK$15 from HK$14 after rolling forward to 2019, and
maintained its "buy" rating.
The research house said HSH reported 1H attributable EBITDA of HK$720m (+14% YoY)
and core profit of HK$255m (+41% YoY), representing 41% and 35% of Citi's prior full year
estimates.
Citi maintained its FY2018-20 attributable EBITDA largely unchanged but cut its net
profits by 1-2% reflecting the latest deprecation forecasts. (KL)