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RTNominal down38.350 -0.350 (-0.904%)

02/07/2020 14:59

{I-bank focus}Nomura cuts MTR Corporation (00066) to HK$48.6

[ET Net News Agency, 2 July 2020] Nomura lowered its target price for MTRC Corporation
(MTRC)(00066) to HK$48.6 from HK$51.2 and maintained its "buy" rating.
The research house said daily activities gradually normalised from May onward. Nomura
believes patronage and foot traffic in June should be higher than in May, while the rental
reduction was offered only on an ad-hoc basis. It expects profit declines to taper off in
the coming months, and positive profit growth to resume by 4Q.
Reflecting the slower-than-expected business normalisation since our last update in
March, Nomura revised FY2020/21 patronage to -15%/+19% (from -5%/+11% ). It projected a
34% decline in 1H followed by 6% recovery in 2H. (KL)

Remark: Real time quote last updated: 28/10/2020 18:00
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