[ET Net News Agency, 12 March 2021] HSBC Global Research lifted its target price for
MTR Corporation (00066) to HK$46.4 from HK$46.3 and maintained its "hold" rating.
The research house said MTRC reported weak FY2020 results. The weakness in earnings
should be well anticipated given its earlier profit warning. HSBC has constructive views
on the property business given its solid pipeline in the next few years, but it suggested
that investors reset their expectation of MTRC's earnings recovery trajectory compared to
its peers.
Management believes that the return to normalcy for its domestic patronage business will
not be immediate and may take longer than a year. HSBC believes the worst is largely over
for MTRC's business, but it also sees a lack of near-term share price catalysts. (KL)
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00066 MTR CORPORATION
Nominal 
24.800 +0.500 (+2.058%) Research Report
12/03/2021 15:21
{I-bank focus}HSBC lifts MTR Corporation (00066) to HK$46.4
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
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