[ET Net News Agency, 3 December 2020] HSBC Global Research lifted its target price for
Hysan Development (00014) to HK$35.5 from HK$25.4 and upgraded its rating to "buy" from
"hold", given improved visibility of earnings recovery.
The research house said Hysan's initiatives in balancing the portfolio between the
office and shopping malls have started to pay off. Its tenants' sales growth turned
positive in October, thanks to its office portfolio performance and a gradual improvement
in the domestic retail market.
HSBC expects the improvement in tenant sales growth to persist given the progressive
easing of social distancing measures and better consumer sentiment. Its proactive share
buyback (with over HK$96m spending year-to-date) could also provide strong support in the
share price performance.
HSBC believes the re-rating process has just started. Its growth should continue in 2021
thanks to an incremental rental contribution from its retail portfolio and a positive
wealth effect that will encourage spending in shopping malls. (KL)
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00014 HYSAN DEV
Nominal 
12.000 +0.180 (+1.523%) Others
03/12/2020 13:33
{I-bank focus}HSBC upgrades Hysan Dev (00014) to HK$35.5
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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