[ET Net News Agency, 11 December 2018] Morgan Stanley lowered its target price for
Shenzhen International (SZI)(00152) to HK$19.8 from HK$20.47 and maintained its
"overweight" rating.
The research house said it gained confidence from SZI's core business from its reverse
roadshow held on 7 December despite Morgan's further price target/earnings cut reflecting
more significant FX risks in 2H 2018.
Morgan said a further negative impact could be led by foreign debt exposures of SZI and
its subsidiary of SZ Airlines. However, the company is actively looking for hedging
opportunities to mitigate FX risks. (KL)