[ET Net News Agency, 14 February 2018] Credit Suisse assumed coverage of Yuexiu REIT
(00405) with a higher target price of HK$6.1 (previously HK$5.9), and an "outperform"
rating on attractive yield of over 7% for the next three years.
The research house said the company's DPU of Rmb0.2771 in FY2017 was in line with Credit
Suisse's expectation. It expects 7.2%/7.4%/7.4% dividend yield in FY2018-20.
It noted that Yuexiu REITs acquired 67% of Wuhan Property project from its parent
company Yuexiu Property at Nov 2017. With profit guarantee of Rmb78/98/110mn for
FY2018-20, the project should provide new earnings growth opportunity, Credit Suisse said.
Credit Suisse raised its FY2018/19 DPU by 5%/6% to factor in the acquisition of Wuhan
project. (KL)
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00405 YUEXIU REIT
Nominal 
0.970 0.000 (0.000%) Others
14/02/2018 17:55
[I-bank focus]Credit Suisse restarts Yuexiu REIT at HK$6.1
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