[ET Net News Agency, 10 July 2019] UBS Global Research maintained its target price for
China Merchants Port (CMP)(00144) at HK$18.3 but upgraded its rating to "buy" from
"neutral".
The research house thinks tariff cut and trade war concerns appear overdone, especially
since the share price has already dropped 40% from a two-year high.
UBS has been a long-term believer in CMP because it is a market leader in port
consolidation and overseas expansion, although tariff cut and trade war concerns were
material performance drags in 2018.
UBS said CMP is committed to a stable dividend payout ratio of 7.5%/4% in 2019/20.
Potential earnings recovery catalysts include the confirmation of dividends from the
mark-to-market gain from Qianhai land, better-than-expected throughput growth to reflect
the limited impact of trade tension and value-accretive acquisitions overseas. (KL)
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00144 CHINA MER PORT
Nominal 
10.020 -0.040 (-0.398%) Others
10/07/2019 14:46
[I-bank focus]UBS upgrades China Mer Port (00144) to "buy"
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