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00014 HYSAN DEV
RTNominal up30.200 +0.250 (+0.835%)
Others

06/11/2019 10:18

{I-bank focus}CLSA cuts Hysan Development (00014) to HK$30

[ET Net News Agency, 6 November 2019] CLSA lowered its target price for Hysan
Development (00014) to HK$30 from HK$34 and maintained its "underperform" rating.
With 85% of its investment properties located in Causeway Bay, Hysan should inevitably
suffer from Hong Kong's ongoing social unrest, said the research house. However, a recent
22% stock correction seems to have priced in most negatives.
CLSA believes the landlord could maintain its DPS of HK$1.44 (as of FY2018) by
significantly raising its payout ratio. It lowered its 2020-21CL earnings estimates by
13.4-19.1% to reflect our negative views on both Hong Kong's retail and office markets.
(KL)

Remark: Real time quote last updated: 11/12/2019 17:59
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