SUNeVision (1686.HK) – The new capacity of the data center being sold faster than expected February 28, 2019

PSR Recommendation: ACCUMULATEStatus: MaintainedTarget Price: HKDHKD5.82

Investment Summary

SUNeVision is one of the leading carrier-neutral data center operators in Hong Kong, owned 74.04% by Sun Hung Kai Properties (16.HK). The Group announced its interim results on February 22, and its revenue reached HK$760 million during the period, up 18.5% YoY, while we should see the net interest-bearing debt-to-equity ratio to rise significantly. We derive a target price of HK$5.82. Due to the recent rally on stock price, we downgraded the rating to “Accumulate” with a potential upside of approximately 5.05%. (Closing price at 26 Feb 2019)

About the author

Profile photo of Terry Li

Terry Li
Investment Analyst

Graduated from Lingnan University, with Master of Science in International Banking and Finance and Bachelor of Business Administration respectively. Specializes in analyzing company fundamentals and valuation to explore investment opportunities in TMT, Education and Financial industry.

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