[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)
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00066 MTR CORPORATION
Nominal 
23.600 -0.100 (-0.422%) Research Report
15/06/2020 14:28
{I-bank focus}Goldman trims MTR Corporation (00066) to HK$48
| Remark: | Real time quote last updated: 18/04/2024 17:59 |
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