J.P. Morgan lifted its target price for NWS Holdings (00659) to HK$9 from HK$8 and maintained its "overweight" rating.
The research house believes the improving investor confidence in NWS's dividend commitment and business recovery have been supporting its share price outperformance in the past month. Any policy easing or improving tariff-setting in the 14th FYP would be a positive catalyst for NWS.
In addition, JPM believes imminent disposals in the next 6-9 months will raise investors' expectations on a special dividend.