[ET Net News Agency, 1 April 2020] Goldman Sachs lowered its target price for China
Merchants Port Holdings (CMPH)(00144) to HK$16 from HK$17.3 and maintained its "buy"
rating.
The research house said CMPH's FY2019 core earnings of HK$4.2bn was in line with
Goldman's estimate. The company has delayed its final dividend announcement pending the
release of its final audited results in the coming week, in light of COVID-19 related
disruption.
CMPH's intention is still to maintain a 40-50% payout as in prior years based on
headline net profit inclusive of exceptional gain/loss. By assuming a 40% dividend payout
ratio, Goldman modeled HK$0.99 total DPS in FY2019.
Together with the port acquisition by its JV Terminal Link, Goldman revised its 2020-21
earnings lower for CMPH by 9-11%. (KL)
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00144 CHINA MER PORT
Nominal 
10.360 -0.100 (-0.956%) Research Report
01/04/2020 17:22
{I-bank focus}Goldman cuts China Merchants Port to HK$16
| Remark: | Real time quote last updated: 30/04/2024 17:59 |
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