[ET Net News Agency, 21 September 2018] Daiwa Research raised its target price for NWS
Holdings (00659) to HK$18.2 from HK$18, and maintained its "buy" rating.
The research house hosted the post-results NDR for NWS management on 20 September. NWS
completed the acquisition of Sky Aviation in September, adding a fleet of 51 aircraft to
its existing fleet size of 111 aircraft.
Apart from the current 20-aircraft order book, Goshawk placed a direct order for 40
aircraft with a delivery schedule of 2023-25. Management expects that with the new
acquisition and incoming delivery, NWS' aircraft leasing segment will record an
attributable operating profit (AOP) CAGR of >20% over FY2019-21, compensating for the loss
from the Beijing Capital International Airport (00694) divestment.
Daiwa trimmed its FY2019-20 EPS forecasts by 0-1% to reflect its new assumptions for the
environment and aviation segments. (KL)
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00659 NWS HOLDINGS
Nominal 
6.620 +0.030 (+0.455%) Others
21/09/2018 11:31
[I-bank focus]Daiwa raises NWS Holdings (00659) to HK$18.2
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