The new target price for HT shares is 234 kuna, while the recommendation from Erste analysts is to accumulate.
In their analysis of the company’s performance in the last quarter of last year, they state that HT’s revenues fell by nine percent, while analysts had predicted a decline of six percent. For the entire year, revenues fell by 7.6 percent to 7.45 billion kuna.
-The decline is a result of a weak economic environment, regulatory measures, and competitive pressure, states the analysis signed by Vera Sutedja.
The company’s net profit in 2012 was also below expectations, amounting to 1.69 billion kuna.
A dividend of 20.51 kuna provides a solid yield of 9.5 percent.
