[ET Net News Agency, 2 July 2020] HSBC Global Research lowered its target price for Sun
Hung Kai Properties (SHKP)(00016) to HK$129.2 from HK$131.3 and maintained its "buy"
rating.
The research house expects resilient performance from SHKP's portfolio despite its
rental business being affected by the COVID-19 pandemic. Its diversified property
portfolio should help SHKP deliver stable earnings and reward investors with a dividend.
Its upcoming key commercial projects will be the Nanjing IFC and Shanghai ITC projects,
which should help offset the rental weakness due to the pandemic, HSBC noted.
HSBC added that SHKP is also one of the few companies that have taken advantage of
recent market uncertainty to acquire a quality landbank at a reasonable cost, in
particular the West Kowloon commercial project. (KL)
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00016 SHK PPT
Nominal 
70.000 0.000 (0.000%) Others
02/07/2020 17:11
{I-bank focus}HSBC trims SHK Properties (00016) to HK$129.2
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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