[ET Net News Agency, 26 February 2021] HSBC Global Research lifted its target price for
Sino Land (00083) to HK$12.9 from HK$12 and downgraded its rating to "hold" from "buy".
The research house said Sino Land reported 1H FY2021 underlying profit of HK$2.1bn,
given the absence of key project completions during the period as expected. For 2H, HSBC
expects earnings to jump significantly to HK$8.2bn, given the completion of the Grand
Central project in Kwun Tong (launched in December 2018).
With the gradual recovery of the housing market that HSBC expects in 2021, Sino Land
could deliver satisfactory sales in the coming months given its solid project pipeline.
HSBC revised its FY2021-23 earnings estimates by 0-5%, mainly due to higher average
selling price (ASP) assumptions for residential projects, increased rental estimates for
retail projects, and improved occupancy rate forecasts for hotels. (KL)
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00083 SINO LAND
Nominal 
7.540 -0.050 (-0.659%) Others
26/02/2021 17:16
{I-bank focus}HSBC lifts Sino Land (00083) to HK$12.9
| Remark: | Real time quote last updated: 20/12/2024 17:59 |
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