[ET Net News Agency, 30 October 2018] HSBC Global Research raised its target price for
Guangdong Investment (GDI)(00270) to HK$16.2 from HK$14.9, and maintained its "buy"
rating.
The research house said GDI's 9-month clean earnings (excluding gain on bargain purchase
and changes in fair value of investment properties) came in at HK$3.7bn, up 14% y-y,
broadly in line with HSBC's estimates. The reported earnings now account for 84% and 86%
of HSBC's forecast and consensus, respectively, for the full year.
HSBC maintained its 2018 earnings forecast unchanged but adjusted its estimates by 5%
for 2019 and 2020 to reflect the latest progress of the new water projects development.
(KL)