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中信里昂:维持港铁公司(00066)“跑赢大市”评级 目标价降至26港元

CITIC CLSA maintains the "Outperform" rating on MTR Corporation (00066) and lowers the target price to HKD 26.

Zhitong Finance ·  Jul 10 23:31

CICC lowered MTR Corporation's basic profit forecast for 2024 by 49%.

Zhixin Lian maintained its "outperform" rating on MTR Corporation (00066) and lowered its target price from HKD 37 to HKD 26, a decrease of 30%, according to the research report. The bank only expected the company's recurring profit to grow moderately, as capital expenditures will remain high from 2024 to 2026.

The bank stated that it lowered its forecast for MTR Corporation's basic profit for 2024 by 49%, and also lowered its forecast for basic profit for 2025 by 20%. This is mainly due to changes in the bank's assumptions regarding the property accounting timetable and Hong Kong transportation business. MTR Corporation's current stock price is at a discount of 30% from net asset value (average discount of 16%).

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