[ET Net News Agency, 12 August 2019] Goldman Sachs lowered its target price for MTR
Corporation (00066) to HK$51.8 from HK$53.4 and maintained its "neutral" rating.
The research house said MTRC's 1H headline net profit came in at HK$5.5bn, dragged by
HK$2bn provision related phased opening of SCL (Shatin-Central Link) and HK$436mn on South
Western Railway partly offset by property revaluation of HK$2bn. Excluding these one-off
items, core net profit grew 26% to HK$5.9bn.
At the results briefing, management said they are generally satisfied with the patronage
takeup at High-Speed Rail (HSR) and highlighted the rail broke even at the EBIT level in
1H driven by station commercial business. Goldman revised its FY2019-21 EPS forecasts by
less than 1%. (KL)
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00066 MTR CORPORATION
Nominal 
23.450 -0.150 (-0.636%) Others
12/08/2019 16:38
{I-bank focus}Goldman lowers MTR Corp (00066) to HK$51.8
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