HSBC Global Research Hikes MTR TP to $49.2, Rating Buy
$MTR CORPORATION (00066.HK)$'s underlying profit is expected to resume growth at a CAGR of over33%in 2022-24e, and should be supported by both its recurrent and property development businesses,$HSBC HOLDINGS (00005.HK)$HSBC Global Research said in a research report.
The broker noted that the recovery of local economy should improve its local transport and rental business, while the border reopening could revive its cross border-related services.
The broker lifted its TP from $43.6 to$49.2, withBuyrating maintained.