The analyst covering The Hongkong and Shanghai Hotels, Limited (HKG:45) delivered a dose of negativity to shareholders today, by making a substantial revision to their statutory forecasts for this year. Revenue estimates were cut sharply as the analyst signalled a weaker outlook – perhaps a sign that investors should temper their expectations as well. The stock price has risen 6.0% to HK$7.40 over the past week. We’d be curious to see if the downgrade is enough to reverse investor sentiment on the business.

Following the latest downgrade, the sole analyst covering Hongkong and Shanghai Hotels provided consensus estimates of HK$2.6b revenue in 2020, which would reflect a stressful 56% decline on its sales over the past 12 months. After this downgrade, the company is anticipated to

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