[ET Net News Agency, 30 August 2017] HSBC Global Research lifted its target price for
Jiangsu Expressway (00177) to HK$10.5 from HK$10.2, and maintained its "hold" rating.
The research house said Jiangsu Expressway's 1H NPAT was 9% ahead of HSBC's expectation.
Management expects toll road growth could be maintained in 2H.
The company has finished the three service area outsourcing tenders as of June 2017.
Management expects it to provide stable rental income and help on labour cost-saving. The
overall ancillary services have been a loss-making business historically, but management
thinks it could turn positive and contribute about RMB80m profit in 2017.
HSBC expects a sustainable 5.2% and 5.5% dividend yield in 2017 and 2018. The research
house made no changes to its earnings forecasts. (KL)
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00177 JIANGSU EXPRESS
Nominal 
7.900 -0.010 (-0.126%) Others
30/08/2017 15:13
[I-bank focus]HSBC ups Jiangsu Expressway (00177) to HK$10.5
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