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<Research>JPM Upgrades MTR CORPORATION to Overweight, Raises TP Sharply to HKD39
Recommend 10 Positive 19 Negative 9 |
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MTR CORPORATION (00066.HK) has seen its share price rise by around 11% YTD, but it still lagged behind the property sector (up 19%) because of its low-beta characteristics and the market's primary focus on the discount to its property net asset value (NAV), JPMorgan wrote in its report. In JPMorgan's opinion, however, the market has overlooked MTR CORPORATION's unique dual role as both an infrastructure operator and a property developer. Its disciplined balance sheet management and continued reinvestment of operating cash flow provide momentum for sustainable growth. JPMorgan has upgraded MTR CORPORATION's rating from Neutral to Overweight and raised its target price from HKD29 to HKD39. Auto-translated by AI AASTOCKS Financial News |
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