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RTNominal down30.300 -0.600 (-1.942%)
Research Report

07/01/2021 11:05

{I-bank focus}JPM downgrades New World Dev to HK$35.9

[ET Net News Agency, 7 January 2021] J.P. Morgan lowered its target price for New World
Development (NWD) (00017) to HK$35.9 from HK$44 and downgraded its rating to "neutral"
from "overweight".
The research house said it's not that the company hasn't been doing the right thing.
However, with the recent strong sell-through of its Tai Wai residential project, JPM
believes investors' attention will come to a pause, as there aren't likely to be any
substantial drivers in the near term.
JPM believes the company's long-term driver remains its good execution record for the
last few years. However, with additional catalysts likely to slow, it believes the stock
will be a market performer. It also believes NWD has been one of the most overweight
property stocks among investors. (KL)

Remark: Real time quote last updated: 24/09/2021 15:38
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