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00066 MTR CORPORATION
RTNominal down38.000 -0.350 (-0.913%)
Others

15/06/2020 14:28

{I-bank focus}Goldman trims MTR Corporation (00066) to HK$48

[ET Net News Agency, 15 June 2020] Goldman Sachs lowered its target price for MTR
Corporation (MTRC)(00066) to HK$48 from HK$50.95 and maintained its "buy" rating.
Amid both the COVID-19 outbreak and social unrest, MTRC's railway business has remained
under pressure (patronage for domestic lines down 43% in Mar-April) although the traffic
on a sequential basis picked up moderately in May after the removal of certain social
distancing measures, said the research house.
Management noted that the voluntary fare rebate is one-off in 2H. As far as kiosk rental
and shopping mall businesses are concerned, MTRC agrees to offer small tenants a 50%
rental concession for a limited time period.
Factoring in the latest operating trends and updated property completion schedule,
Goldman revised MTRC's FY2020-22 EPS forecasts by -49% to -1%. (KL)

Remark: Real time quote last updated: 29/10/2020 12:58
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