Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
00017 NEW WORLD DEV
RTNominal up7.220 +0.100 (+1.404%)
Research Report

29/12/2020 14:29

{I-bank focus}Citi cuts New World Development to HK$47.7

[ET Net News Agency, 29 December 2020] Citi Research cut its target price for New World
Development (NWD) (00017) to HK$47.7 from HK$52 and maintained its "buy" rating.
The research house reiterated NWD as one of Citi's top picks for (1) Being a high beta
stock among HK property names due to its higher gearing, NWD should see a stronger rebound
in NAV/earnings with HK and China both poised for a COVID recovery; (2) NWD has a strong
IP (investment property) pipeline in the making, targeting mid- to high-teen FY2020-25
rental CAGR; and (3) NWD has set a higher HK$13-15bn non-core disposal target for FY2021,
unlocking NAV discount.
With a commitment to steadily increase DPS versus the current level (HK$2.04/share, Citi
believes investors have higher confidence in NWD's sustainable dividend yield. (KL)

Remark: Real time quote last updated: 19/09/2024 17:59
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2024 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.