[ET Net News Agency, 25 November 2019] Huatai Research lifted its target price for
Shenzhen International Holdings (SZI)(00152) to HK$19.7 from HK$18.7 and maintained its
"buy" rating.
The research house expects land bank monetization and Shenzhen Airlines investment gains
to underpin double-digit net profit growth in 2019 and 2020. SZI's dividend payout ratio
has risen to 53% in 2018 from 38% in 2013, and its dividend yields will rise to 8.3/9.6%
in 2019/2020, Huatai estimated.
Factoring in changes to its earnings assumptions for SZI's toll road segment and real
estate development projects, Huatai increased its 2019/2020/2021 net profit forecasts by
6.8/0.5/7.8% to HK$5.69bn/6.6bn/3.64bn. (KL)