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RTNominal down1.280 -0.020 (-1.538%)

27/09/2019 11:58

{I-bank focus}HSBC cuts HutchTel HK (00215) to HK$1.77

[ET Net News Agency, 27 September 2019] HSBC Global Research lowered its target price
for Hutchison Telecommunications HK (00215) to HK$1.77 from HK$2.08 but upgraded its
rating to "buy" from "hold" on valuation.
The research house said HutchTel stock has fallen since the half-year results. The
company has HK$3.4bn in net cash but is conserving this going into the auction and 5G
rollout. HSBC sees the potential for a further special dividend if 5G spectrum costs are
in line with its forecasts.
HSBC forecast HetchTel's 2019/20 net profit to be HK$331m and HK$355m. (KL)

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