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01270 LANGHAM-SS
RTNominal up0.910 +0.010 (+1.111%)
Others

09/08/2019 16:47

{I-bank focus}HSBC trims Langham-SS (01270) to HK$3.11

[ET Net News Agency, 9 August 2019] HSBC Global Research lowered its target price for
Langham Hospitality Investments (01270) to HK$3.11 from HK$3.45 and maintained its "hold"
rating.
The research house said Langham's 1H DPU (distribution per unit) was below HSBC's
expectation. The decline in DPU was due to weaker macroeconomic conditions, which in turn
affected high-end corporate and leisure travellers.
HSBC expects the hotel segment weakness will linger during 2H. It forecast a subsequent
rebound in FY2020 to be driven by 2ppt improvement in occupancy and 2% increase in ADR.
(KL)

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