报告名称：MTR Corp.(00066.HK)In line with expectations： Fundamentals deteriorating; fully
报告类型：港股研究
报告日期：2016-03-12
研究机构：高盛集团
股票名称：港铁公司
股票代码：00066
页数：7
简介：After updating property schedule and factoring in the special DPS, we revise 2016-18E EPS -6% to 6% and 12m NAV-based TP to HK$33.6 (from HK$34.8). The stock looks fully valued trading at a 3% NAV discount and 1.3x P/B on 5.4% ROE in 2016E, while fundamentals are deteriorating as shown in this set of results. Key risks: More resilient performance in HK.

下载地址：MTR Corp.(00066.HK)In line with expectations： Fundamentals deteriorating; fully