[ET Net News Agency, 2 March 2018] Deutsche Bank lifted its target price for SHK
Properties (SHKP)(00016) to HK$135.9 from HK$130.7, and reiterated its "hold" rating
noting that current valuation is close to DB's assessed fair value.
Following a strong beat in 1H 2018, the research house revised its earnings forecast by
7%-9% for FY2018-20 by adopting higher development margin assumptions overall.
Nevertheless, in light of macro headwinds (upcoming rate hike and supply increase) and
management guidance of little scope for imminent share buyback/ flat dividend payout, DB
sees few near-term catalysts. (KL)