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<Research>CLSA Lifts MTR CORPORATION (00066.HK) TP to $30, Rating Outperform
Recommend 8 Positive 13 Negative 1 |
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CLSA released a research report turning more optimistic on MTR CORPORATION (00066.HK)'s recurring profit as its YTD passenger volume has recovered to 96% of 2018 level, while the Group's savings in operating expenses should support earnings. While the broker did not expect MTR CORPORATION to cut dividend in the future, the Group's net debt-to-equity ratio is expected to widen to 34% as its capital expenditure will remain high to build new railway and related projects in Hong Kong. CLSA lifted its target price for MTR CORPORATION from $26 to $30, with rating kept at Outperform, and an estimated dividend yield of 4.6% for FY2025. AAStocks Financial News |
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