UBS: MTR's recurring profits last year were below expectations, rating it as "sell".

UBS published a research report stating that MTR Corporation announced its full-year performance as of the end of December last year, with a basic net profit of 16.7 billion Hong Kong dollars, a 4% year-on-year decrease, in line with the bank's expectations. EBITDA fell 13% year-on-year, lower than the bank's forecast. At the performance briefing, MTR Corporation stated that the South Hong Kong Island Line and Pak Shek Kok Station are currently in the planning stage. Along with the second phase of the Northern Link, UBS expects the capital expenditure of these three new projects to be disclosed in the second half of this year, predicting that the stock price will react negatively to lower-than-expected performance. UBS has a target price of 24 Hong Kong dollars for MTR Corporation, with a "sell" rating.