[ET Net News Agency, 6 August 2020] Nomura lowered its target price for HKT Trust and
HKT (06823) to HK$13.32 from HK$14.18 and maintained its "buy" rating.
The research house said HKT's 1H results decline due mainly to the impact of COVID-19 on
mobile services. With Hong Kong hit by a new wave of the COVID-19 pandemic in July, Nomura
expects the weakness in mobile revenue to continue in 2H.
However, it thinks HKT is well-positioned as an integrated telco with increased demand
for "work-from-home", in-home entertainment as well as international connectivity
services.
Moreover, with the launch of 5G services, Nomura believes HKT should enjoy further ARPU
uplift with higher 5G penetration in the long run. It cut its 2020-22 revenue estimates by
1-6% and earnings forecasts by 1-9% to reflect COVID-19 headwinds. (KL)
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06823 HKT-SS
Nominal 
8.830 -0.070 (-0.787%) Research Report
06/08/2020 11:10
{I-bank focus}Nomura lowers HKT-SS (06823) to HK$13.32
| Remark: | Real time quote last updated: 16/04/2024 17:59 |
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