[ET Net News Agency, 16 April 2019] Daiwa Research maintained its target price for
Guangdong Investment (GDI)(00270) unchanged at HK$17.2 but upgraded its rating to "buy"
from "outperform" as its current valuation is attractive.
The research house expects GDI to continue to enjoy steady earnings growth in 2019-21,
which, coupled with its strong financial position, should enable it to maintain 10% DPS
growth over 2019-21.
Daiwa noted three major earnings growth drivers in 2019, (1) non-Dongjiang water
projects, (2) the Zhuguanglu property project, and (3) the Dongguan Yinping Road PPP
project. Daiwa cut its 2019-20 EPS forecasts by 2-4% after adjusting for GDI's project
progress and margin. (KL)
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00270 GUANGDONG INV
Nominal 
3.460 +0.050 (+1.466%) Research Report
16/04/2019 09:38
[I-bank focus]Daiwa upgrades Guangdong Investment to "buy"
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