[ET Net News Agency, 30 November 2017] Goldman Sachs lifted its target price for
Shangri-La Asia (00069) to HK$22 from HK$15.8, and maintained its "buy" (on conviction
list) rating.
The research house said Shangri-La's share price has risen 118% year-to-date, but it
believes the shares have significant upside remaining; Goldman views Shangri-La as
best-placed to ride further growth in Asia's lodging industry (especially in China) as its
multi-step story continues to unfold.
Goldman cited recent data points suggesting further gains in occupancy at high-end
hotels, which would pave the way for a hike in room rates in 2018. Meanwhile, management
is focused on asset-light growth with the potential for adding more management contracts.
Reflecting the factors, Goldman raised its 2017-2019 EPS forecasts by up to 26% on a
faster RevPAR growth path across China and Asia. (KL)
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00069 SHANGRI-LA ASIA
Nominal 
5.580 0.000 (0.000%) Others
30/11/2017 17:46
[I-bank focus]Goldman lifts Shangri-La Asia (00069) to HK$22
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