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RTNominal up13.880 +0.220 (+1.611%)

03/09/2019 15:35

{I-bank focus}HSBC raises Guangdong Inv (00270) to HK$16.4

[ET Net News Agency, 3 September 2019] HSBC Global Research raised its target price for
Guangdong Investment (GDI)(00270) to HK$16.4 from HK$16.2 and retained its "hold" rating.
The research house said GDI's 1H core earnings missed HSBC's estimate slightly due to
lower earnings from the water and property segment and higher tax expenses.
HSBC expects GDI to start booking a big chunk of earnings from the two property
development projects (Buxin and Panyu CBD) next year and estimated its property
development revenue of HK$4bn-HK$5bn per year in 2020-21, accounting for 15% of operating
profit per year.
HSBC lowered its earnings estimates by 6% for 2019 and 2% for both 2020 and 2021, after
incorporating the latest 1H result. (KL)

Remark: Real time quote last updated: 26/02/2021 17:59
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