[ET Net News Agency, 12 June 2018] UBS Global Research raised its target price for
Kerry Properties (00683) to HK$47.07 from HK$39.27, and retained its "buy" rating despite
its shares outperforming its Hong Kong developer peers.
The research house expects the company's profitable development projects and growing
rental income to support a rise in earnings and, more importantly, an upward trend in
dividends.
HSBC said Kerry has re-rated in the past 12-15 months, triggered by the substantial
uplift in dividend payout and payment. The company's increasing focus on capital
management, supported by higher earnings, should continue to drive the share price.
HSBC believes the increasing rental earnings and steady recurring dividends received
from its listed associate, Kerry Logistics (00636), should be adequate to support
continued growth in dividends over the medium term. (KL)
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00636 KERRY LOG NET
Nominal 
7.400 +0.400 (+5.714%) Others
12/06/2018 17:53
[I-bank focus]UBS lifts Kerry Properties (00683) to HK$47.07
| Remark: | Real time quote last updated: 17/09/2024 17:59 |
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