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Daiwa raises NWS Holdings (00659) to HK$18.5
Daiwa Research raised its target price for NWS Holdings (00659) to HK$18.5 from HK$18
and maintained its "buy" rating.
  The research house attended NWS's analyst briefing in Hong Kong yesterday. Overall, it 
noted that management expects business growth to remain steady, underpinned by likely
solid momentum from the toll road, aviation and construction segments from FY2018 onwards.
Daiwa remains positive on the company on its stable earnings outlook and payout policy.
  Daiwa lowered its FY2018-19 earnings by 16-18% after factoring in the FY2017 results and
slower environment attributable operating profit growth forecasts of 3-7% (previously
10-11%) for FY2018-19.

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