[ET Net News Agency, 2 December 2020] CLSA lifted its target price for First Pacific
Company (00142) to HK$3 from HK$2.71 and reiterated its "buy" rating.
Following the 3Q results of PLDT, Metro Pacific, and Indofood, the research house
believes First Pacific's earnings momentum will continue while CLSA's investment thesis is
intact. The strength in PLDT's mobile and broadband businesses will support its higher
earnings, while easing lockdowns and Pinehill's acquisition will underpin earnings growth
in Metro Pacific and Indofood.
CLSA also noted that First Pacific is trading at a 62% discount to NAV (average: 44%). It
lifted its 2020 and 2021 recurring profit forecasts by 5% and 1%. (KL)
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00142 FIRST PACIFIC
Nominal 
3.580 0.000 (0.000%) Others
02/12/2020 17:34
{I-bank focus}CLSA lifts First Pacific (00142) to HK$3
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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