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00270 GUANGDONG INV
RTNominal down11.580 -0.160 (-1.363%)
Research Report

12/04/2021 15:28

{I-bank focus}JPM lowers Guangdong Inv (00270) to HK$15

[ET Net News Agency, 12 April 2021] J.P. Morgan lowered its target price for Guangdong
Investment Limited (00270) to HK$15 from HK$17.5 and maintained its "overweight" rating.
The research house said Guangdong Inv's weak 4Q20 profits for the water/property
segments raised doubts on its long-term growth prospects as they have been the major
earnings drivers for the company in the past. It forecast a painful transition period for
the water segment this year, as low utilization/margin for new water projects will
continue to drag earnings momentum in the near term. Yet, the headwinds are likely to fade
from 2022E onwards and it forecast the company's water segment to deliver >10% growth p.a.
on average that could lead to >4% DPS/EPS growth p.a. over the decade. (RC)

Remark: Real time quote last updated: 17/06/2021 17:59
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