[ET Net News Agency, 28 February 2020] Credit Suisse lowered its target price for Sun
Hung Kai Properties (SHKP)(00016) to HK$149.4 from HK$153.14 and maintained its
"outperform" rating.
The research house said SHKP's 1H FY2020 underlying profit of HK$13.4bn was behind its
estimates. The pullback was mainly due to the lacklustre hotel operation, whereas the
profit of property sales and rental was up 2%.
Despite some uncertainties amid the COVID-19, management expected the sales to resume
resilience in 3Q-4Q on more new launches. The sales target of HK$40bn in HK is unchanged
for FY2021.
Credit Suisse lowered its FY2020/21 earnings estimates by 8%/5%. (KL)
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00016 SHK PPT
Nominal 
72.850 +0.850 (+1.181%) Research Report
28/02/2020 14:34
{I-bank focus}CS cuts SHK Properties (00016) to HK$149.4
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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