[ET Net News Agency, 2 November 2018] Daiwa Research lowered its target price for
Shangri-La Asia (00069) to HK$14.5 from HK$18, and maintained its "buy" rating.
The research house updated its RevPAR assumptions amid heightened macro uncertainty. Its
investment thesis remains intact as it believes Shangri-La is still on track for a gradual
ROE improvement in the long term.
Daiwa said the rapid appreciation of the USD against many Asian countries and the
escalation in the US-China trade war have likely put pressure on RevPAR growth in 2H. It
believes the occupancy growth in China in 3Q slowed due to more conservative corporate
travel budgets.
It now looks for overall group RevPAR to grow by 3.8% YoY in 2H versus 13.7% in 1H.
Daiwa trimmed its 2018-20 consolidated EBITDA forecasts by 3-4% and its core EPS estimates
by 3-7%. (KL)
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00069 SHANGRI-LA ASIA
Nominal 
4.800 +0.060 (+1.266%) Others
02/11/2018 11:42
[I-bank focus]Daiwa cuts Shangri-La Asia (00069) to HK$14.5
| Remark: | Real time quote last updated: 20/09/2024 10:45 |
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