[ET Net News Agency, 28 February 2018] HSBC Global Research lifted its target price for
New World Development (NWD)(00017) to HK$14.6 from HK$14.4, and reiterated its "buy"
rating.
The research house said NWD is in a good position for its rerating to continue.
Management stated that the contribution from rental income should increase from 10-15%, to
50% of the total property business (30% of total operating profit) in the next three to
five years, when the "Victoria Dockside" starts to fully operate in mid-2019.
The latest spot rent of its office in the project reached a new high in the region at
over HK$90/sqft/month and has showcased its capability to execute in the rental business.
HSBC expects NWD to transform itself into an integrated developer with a balanced mix of
property sales and rental business. (KL)
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00017 NEW WORLD DEV
Nominal 
7.960 0.000 (0.000%) Others
28/02/2018 14:49
[I-bank focus]HSBC lifts New World Development to HK$14.6
| Remark: | Real time quote last updated: 25/04/2024 13:15 |
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