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00069 SHANGRI-LA ASIA
RTNominal down8.010 -0.030 (-0.373%)
Others

16/09/2019 14:19

{I-bank focus}Goldman cuts Shangri-La Asia (00069) to HK$11

[ET Net News Agency, 16 September 2019] Goldman Sachs lowered its target price for
Shangri-La Asia (SLA)(00069) to HK$11 from HK$13 and maintained its "buy" rating.
The research house acknowledged near-term relatively challenging operating environment
for SLA amid slower demand and negative FX headwinds, but it sees SLA's near-trough
valuation as likely reflective of pessimism partly being factored into the shares.
Meanwhile, Goldman sees management's focus on asset enhancement initiatives and
selective site acquisitions as strategically positive to ROE improvements. Near term,
Goldman expects the company to remain focused on improving asset yields and to be highly
selective in inorganic growth through development.
Goldman lowered its 2019-2021 EPS forecasts by up to 10%, respectively, mainly to factor
in updated RevPAR (Revenue per available room) and SG&A assumptions. (KL)

Remark: Real time quote last updated: 10/12/2019 18:00
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