MTR CORPORATION (00066.HK) Slides ~4% after G Sachs Trims TP

　　MTR CORPORATION (00066.HK) -0.900 (-3.475%) Short selling $18.58M; Ratio 29.537% continued its downtrend after a flat start today, and its decline widened in the afternoon session. It last posted at $24.9, temporarily at the intra-day low, down 3.86%, with 3.3623 million shares traded, involving $84.672 million.

　　Goldman Sachs released a report that MTR disclosed in this month's teleconference the domestic passenger volume from April to May rose 2% YoY and recovered to 95% of the 2018 level. Among them, Hong Kong's passenger outbound travels consistently exceeded the pre-pandemic level by 13% in May and June, which is greater than the 8% in 1Q24, while the number of XRL passengers was 112% of the pre-Covid level in May. The number of cross-boundary and Airport Express passengers was 82% and 74% of the pre-pandemic level respectively.

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

　　Based on the latest patronage and property development booking schedule, Goldman Sachs adjusted its EPS forecast on MTR for 2024-26 and cut its target price from $32.5 to $31.1, while retaining a Buy rating.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-15 12:25.)

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