[ET Net News Agency, 7 April 2020] Daiwa Research cut its target price for Guangdong
Investment (GDI)(00270) to HK$17.2 from HK$7.3 and maintained its "outperform" rating.
The research house said GDI's share price has corrected by 10% since 22 January, given
the likely impact on its various segments from the COVID-19 outbreak.
Daiwa said GDI's DPS grew by 8% in 2019, and its balance sheet remains healthy and can
still support an 8% DPS CAGR in 2019-22. Daiwa expects the overhang of the 2021-23
Dongjiang water price for HK to be removed in October 2020.
With the COVID-19 outbreak, Daiwa expects GDI's property, department store, hotel and
toll road businesses to be impacted in 1H. It also sees a 1-2% non-cash decline in the
fair value of investment properties, while GDI is also discussing short-term rental
reductions with various tenants. (KL)
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00270 GUANGDONG INV
Nominal 
3.410 -0.030 (-0.872%) Research Report
07/04/2020 14:42
{I-bank focus}Daiwa cuts Guangdong Inv (00270) to HK$17.2
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
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