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Research Report

10/03/2021 17:38

{I-bank focus}Goldman cuts China Tower (00788) to HK$1.32

[ET Net News Agency, 10 March 2021] Goldman Sachs cut its target price for China Tower
Corp. (00788) to HK$1.32 from HK$1.49 and maintained its "neutral" rating.
The research house said China Tower's 4Q 2020 Revenue/EBITDA/net income was
+0.6%/-2.3%/-15.6% versus Goldman's estimates.
Following the results, Goldman revised up its 2021-23 revenue estimates by 0.5%-1.0% to
factor in the 2020 tower business revenue beat, but revised down its net income forecasts
by 8.0%-8.4% on lower EBITDA margin and higher depreciation. (KL)

Remark: Real time quote last updated: 17/09/2021 17:59
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