[ET Net News Agency, 1 June 2020] Goldman Sachs lowered its target price for MTR
Corporation (00066) to HK$50.95 from HK$51.8 and maintained its "buy" rating.
The research house said patronage at MTRC's domestic rails fell 35% in 1Q, while that
for cross-boundary services dropped 100%, given the HK-mainland China border closure and
the mandatory 14-day quarantine requirement for those returning from mainland China.
The company also announced relief initiatives to help local passengers, including
raising the rebate offered for every Octopus trip, from 3.3% originally to 20%, and giving
monthly pass passengers a flat HK$100 reduction on their purchases.
In view of the difficult retail market, tenants inside its stations and shopping malls
have been offered temporary rental concessions since February. On a positive note, market
reception to residential project launches (e.g., Wheelock's Ocean Marini) has remained
healthy, Goldman added. (KL)
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00001 CKH HOLDINGS
Nominal 
37.000 +0.400 (+1.093%) Research Report
01/06/2020 16:55
{I-bank focus}Goldman cuts MTR Corp (00066) to HK$50.95
| Remark: | Real time quote last updated: 23/04/2024 17:59 |
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