Elevator Pitch
I maintain my Bearish rating on Hong Kong-listed rail operator and property company MTR Corporation Limited (MTRJF) (MTCPY) [66:HK].
This is an update of my initiation article on MTR Corporation published on March 26, 2020. MTR Corporation's share price has declined by -4% from HK$40.40 as of March 25, 2020, to HK$38.85 as of July 15, 2020, since my initiation. MTR Corporation's share price has traded as low as HK$36.85 on May 28, 2020, in the past three and a half months. MTR Corporation trades at 35.7 times consensus forward next 12 months'