The Zhitong Finance app learned that Goldman Sachs released a research report stating that it reaffirmed the MTR Corporation's (00066) “buy” rating with a target price of HK$49.8. As the number of visitors entering Hong Kong from May to June gradually recovered to about 60% of the level before 2019 (compared to only 9% in January), the company's various businesses continued to improve. In the railway business, high-speed rail passenger traffic recovered to 104% of 2018 levels in May, ahead of the 62%/65% level of cross-border services/airport express lines.

The bank pointed out that MTR management is cautiously optimistic about the company's business prospects and hopes that with the return of more tourists, it will drive further growth in passenger traffic and rent. In terms of property development, no projects should be completed this year. The bank expects the company's core net profit for the first half of the year to be 2.6 billion yuan, down 67% from the previous year; most of the properties sold will be confirmed in the second half of the year. Furthermore, the bank believes that Hong Kong's economy may experience a cyclical recovery in the future, and the MTR will be one of the direct beneficiaries, as its business spans various market segments. Goldman Sachs predicts that its recurring net profit will rise from 1.1 billion yuan in 2022 to 6.8/93 billion yuan this year.