[ET Net News Agency, 29 August 2017] Daiwa Research lowered its target price for
TravelSky Technology (00696) to HK$25 from HK$21 on rollover, and maintained its "buy"
rating.
The research house said TravelSky's 1H results were slightly weaker than Daiwa's
estimates, but it expects better earnings growth in 2H on its system integration services.
Daiwa expects cost growth to be more in line with revenue growth in 2H. Management said
TravelSky provided a new payment service for the airlines and thus saw a large increase in
"Data network and other" revenue (up 22% YoY), despite a YoY decline in data network
revenue.
The research house revised down its 2017-18 EPS by 2% to reflect its slightly
weaker-than-expected 1H results. (KL)
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00696 TRAVELSKY TECH
Nominal 
10.240 +0.200 (+1.992%) Others
29/08/2017 11:50
[I-bank focus]Daiwa lowers TravelSky Tech (00696) to HK$25
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