[ET Net News Agency, 8 August 2018] HSBC Global Research lowered its target price for
HKT Trust and HKT (06823) to HK$10.1 from HK$10.4, and maintained its "hold" rating.
The research house said trends behind accounting changes were mostly stable. HKT
re-stated the past two periods to provide context to results reported in HKFRS-15 and 16
for the first time. Mobile EBITDA grew 2% on further network-related savings. Performance
in the fixed-line business was solid.
HSBC said HKT continues to defend its core business very well - and will continue to
launch new benefits following the popularity of The Club loyalty program and SIMs, and the
Tap & Go payment service. However, this comes at a cost: EBITDA losses in the "Other"
segment that houses these new businesses widened 11% YoY, on flat revenues.
HSBC raised its revenue estimates for 2018-20, reflecting higher product sales than
previously forecast. (KL)
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06823 HKT-SS
Nominal 
10.480 +0.300 (+2.947%) Others
08/08/2018 14:39
[I-bank focus]HSBC cuts HKT-SS (06823) to HK$10.1; "hold"
| Remark: | Real time quote last updated: 19/09/2024 17:59 |
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