[ET Net News Agency, 31 July 2019] HSBC Global Research raised its target price for
Hang Lung Properties (HLP)(00101) to HK$23.8 from HK$23.3 and maintained its "buy" rating.
The research house believes the rental growth engines of HLP have ignited, offering it
an opportunity to regain its growth momentum. Growth should come from (1) incremental
rental contribution after asset enhancement at the Grand Gateway project, (2) new rental
income from Kunming and Wuhan projects, and (3) satisfactory retail sales growth for
shopping malls, which should drive higher rental growth.
HSBC added that HLP's forthcoming ninth shopping mall, Spring City 66 in Kunming, has
received good leasing demand, with about 87% of the leasable area being committed, and
will open in August. (KL)
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00101 HANG LUNG PPT
Nominal 
8.210 +0.100 (+1.233%) Others
31/07/2019 12:21
{I-bank focus}HSBC raises Hang Lung Properties to HK$23.8
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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