[ET Net News Agency, 31 August 2020] Goldman Sachs lowered its target price for CITIC
Limited (00267) to HK$9.8 from HK$10.3 and maintained its "neutral" rating.
The research house said CITIC's core net profit, excluding HK$2.4bn gain from the sale
of 22% interest in McDonald's business in HK/China, would have fallen by 27% to HK$24.6bn,
broadly in line at about half of Goldman's full-year estimate.
Looking into 2H, management was cautiously optimistic about its business outlook. On the
one hand, with the ongoing spread of COVID-19 globally, they believe the path to recovery,
especially for its overseas businesses, is likely to be long and arduous.
Goldman revised its FY2020-22 EPS forecast for CITIC by -7% to 1%. (KL)
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00267 CITIC
Nominal 
7.150 +0.040 (+0.563%) Research Report
31/08/2020 15:14
{I-bank focus}Goldman cuts CITIC Limited (00267) to HK$9.8
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
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