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00014 HYSAN DEV
RTNominal down31.300 -0.250 (-0.792%)
Research Report

26/02/2021 14:22

{I-bank focus}Citi ups Hysan Development (00014) to HK$37.2

[ET Net News Agency, 26 February 2021] Citi Research lifted its target price for Hysan
Development (00014) to HK$37.2 from HK$33.2 and maintained its "buy" rating.
The research house said Hysan could be considered as the second HK property company
after Wharf REIC (01997) most levered to the HK luxury retail segment (on which Citi is
most bullish for 2021).
That said, Citi believes its significant debt and perpetual securities raised throughout
2020 would boost its interest expense and partially offset the positives on a potential
luxury recovery.
Given abundant cash on hand with an improving outlook on COVID-19 vaccinations, the
research house expects that Hysan will be able to maintain a steady DPS of HK$1.44/share
in spite of a further decline in FY2021 earnings.
It added that the stock is currently trading at a decent 4.3% yield. (KL)

Remark: Real time quote last updated: 23/07/2021 18:00
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