[ET Net News Agency, 6 August 2019] Huatai Research initiated coverage on Zhejiang
Expressway (ZJE)(00576) with a target price of HK$8.2 and a "hold" rating.
The research house said ZJE's fundamentals reflect a mix of weak traffic on toll roads
and rebound in the securities business. In 1H, ZJE's toll income growth rates for core
roads fell below 2019 guidance, due to weak traffic, 1H having one more day free of charge
for small passenger vehicles, and tariff cut on trucks.
Huatai said ZJE's securities business saw a recovery in 1H, which has been priced in.
Its current valuation seems fair, given 8.1x PE and 6.1% dividend yield in 2019. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00576 ZHEJIANGEXPRESS
Nominal 
5.100 +0.020 (+0.394%) Research Report
06/08/2019 14:06
{I-bank focus}Huatai starts Zhejiang Expressway at HK$8.2
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