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Research Report

03/07/2019 17:40

[I-bank focus]Citi lowers Kingboard Holdings to HK$33.2

[ET Net News Agency, 3 July 2019] Citi Research lowered its target price for Kingboard
Holdings (KBH)(00148) to HK$33.2 from HK$35.6 and maintained its "buy" rating.
KBH will post results in the next month. The research house forecast 1H earnings to fall
18% to HK$2.1bn with revenue growth of 8.7% to HK$23.9bn. The earnings decline was mainly
led by margin contraction in manufacturing segment while property segment remains the best
performer this year with profit flat to positive growth.
Citi trimmed down its 2019-21 earnings forecasts by 6-9% for its earnings reduction on
Kingboard Laminates (KBL)(01888). It prefers KBL for higher exposure to 5G story and a
higher dividend yield of 6% this year. (KL)

Remark: Real time quote last updated: 08/04/2020 13:29
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