＜Research＞M Stanley Forecasts MTR CORPORATION 1H24 Underlying Profit to Lift 20% YoY, Notes Attractive Valuation

　　Morgan Stanley noted in a research report that it has a positive outlook on MTR CORPORATION (00066.HK) +0.650 (+2.590%) Short selling $47.89M; Ratio 45.478% 's 1H24 results, expecting EPS growth and stable dividend to make MTR outperform most local developers, while also highlighting its attractive valuation. The broker rated MTR Overweight and gave it a target price of $30.

　　The broker now forecasted that MTR's 1H underlying profit will grow 20% YoY to $3.8 billion, while recurring business profit is predicted to rise 18% to $2.9 billion. Interim dividend is expected to be flat at HK42 cents per share.

　　Related NewsCLSA Chops MTR CORPORATION (00066.HK) TP to $26, Keeps Outperform Rating

　　MTR has 4 property development projects expected to be completed this year, involving 4,500 residential units, mainly in 2H. The outlook for property development profitability is projected to improve as more than 2,500 units have been sold in MTR projects since the government withdrew its property market spicy measures at the end of February. Benefiting from strong inventory sales, MTR's property development profit for 1H is now forecasted to hike 28% YoY to $900 million.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-11 16:25.)

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