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00751 SKYWORTH GROUP
RTNominal down2.760 -0.020 (-0.719%)
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10/12/2018 17:54

[I-bank focus]Citi lowers Skyworth Digital (00751) to HK$1.4

[ET Net News Agency, 10 December 2018] Citi Research lowered its target price for
Skyworth Digital (00751) to HK$1.4 from HK$4.1 and downgraded its rating to "sell" from
"buy".
The research house said the downgrade is due to the company's latest announcement of
spending Rmb1.05bn to acquire land in Anhui for residential property development, coupled
with its recent dividend suspension.
Citi thinks the residential property development has little synergy with its core TV
operations. In view of intensifying TV competition and Skyworth's lack of focus on core
business, Citi trimmed FY2019-21 earnings by 11%-18%. (KL)

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