[ET Net News Agency, 22 January 2020] J.P. Morgan believes investors should be pleased
with Hang Lung Properties' (00101)(HLP) (1) across-the-board rental revenue growth in
China, (2) greater resilience of its HK portfolio, and (3) earlier-than-expected increase
in the dividend.
Given the continued migration of offshore-to-onshore of domestic consumption of luxury
goods in China, the research house believes HLP is poised for a multi-year re-rating. It
maintained its "overweight" rating on HLP, with a price target of HK$23.1. (KL)