[ET Net News Agency, 1 March 2021] HSBC Global Research lifted its target price for Sun
Hung Kai Properties (SHKP) (00016) to HK$135.9 from HK$129 and maintained its "buy"
rating.
The research house said SHKP reported a strong set of results for 1H FY2021. The results
should reassure investors that SHKP can continue to deliver growth despite the impact of
the COVID-19 pandemic and alleviate concerns of its dividend uncertainty.
HSBC believes SHKP is in a strong position in the Hong Kong housing market given its
sizable and diversified land bank, which should benefit from a recovery of the housing
market and have a good earnings recovery trajectory. HSBC increased its FY2021-23 earnings
estimates by 1-2% to reflect higher rental assumptions of its investment property
portfolio. (KL)
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00016 SHK PPT
Nominal 
73.050 +1.050 (+1.458%) Research Report
01/03/2021 15:43
{I-bank focus}HSBC lifts SHK Properties (00016) to HK$135.9
| Remark: | Real time quote last updated: 26/04/2024 10:30 |
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