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00066 MTR CORPORATION
RTNominal down40.350 -0.250 (-0.616%)
Others

09/07/2020 17:13

{I-bank focus}HSBC raises MTR Corporation (00066) to HK$41.8

[ET Net News Agency, 9 July 2020] HSBC Global Research raised its target price for MTR
Corporation (MTRC)(00066) to HK$41.8 from HK$41.4 and maintained its "hold" rating.
The research house said MTRC's profit warning is primarily due to a non-cash decline in
the value of its investment property portfolio of HK$6bn and an over 80% decline of profit
from recurrent businesses. This should come as no surprise, given the sharp decline in
patronage for its Hong Kong transport operation in 1Q.
However, investors could be disappointed by the pace of recovery. MTRC announced a 25%
decline in patronage in June despite a partial lifting of local social-distancing
measures.
HSBC raised its 2020 earnings forecast by 9% to reflect the better than expected profit
from the property development business. (KL)

Remark: Real time quote last updated: 14/08/2020 17:58
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