[ET Net News Agency, 22 March 2018] Goldman Sachs lifted its target price for Henderson
Land Development (HLD)(00012) to HK$54 from HK$53.4, and reiterated its "neutral" rating.
The research house said HLD reported in-line results from operations plus a sizable
disposal gain. On the asset monetization front, management maintained the active pace,
having already secured two major disposals year-to-date, with more to come.
On land banking, the company said progress on farm land conversion would likely take a
pause and resources be diverted to other avenues of land banking. Goldman revised its
2018/19 EPS forecasts by +68/-3% post-results, partly to factor in HK$9bn disposal gains
in 1H 2018.
While there is a lack of property sales contributions in 2018, Goldman expects the
newly-completed disposal gains to more than offset the former. (KL)
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00012 HENDERSON LAND
Nominal 
23.750 +0.200 (+0.849%) Others
22/03/2018 17:56
[I-bank focus]Goldman lifts Henderson Land (00012) to HK$54
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