HT1 - UBS rates as Neutral
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2017 results were largely in line with estimates. UBS notes Adshel outperformed the broader market in both Australia and New Zealand while Hong Kong outdoor also improved.
Despite meeting expectations, UBS downgrades to Neutral from Buy, now incorporating a potential liability from the ATO tax dispute. Target is reduced $1.80 from $2.25.
Target price is $1.80.Current Price is $1.73. Difference: $0.07 - (brackets indicate current price is over target). If HT1 meets the UBS target it will return approximately 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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