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RTNominal down9.340 -0.040 (-0.426%)

02/07/2020 16:58

{I-bank focus}HSBC upgrades Sino Land (00083) to "buy"

[ET Net News Agency, 2 July 2020] HSBC Global Research maintained its target price for
Sino Land (00083) at HK$12.1 but upgraded its rating to "buy" from "hold" from a valuation
The research house said Sino Land was relatively muted over the past 15 months with no
major new project launches in Hong Kong. But HSBC expects the company to expedite
launches, take advantage of the housing market recovery in the second half of 2020.
Its key launches include St George's Mansions in Homantin (175 units), Silversands in Ma
On Shan (160 units) and Grand Victoria I (JV project, 524 units) in Cheung Sha Wan.
HSBC added that Sino Land is one of the most defensive names among its peers given its
net cash position (HK$37.3bn, or HK$5.5 per share). Its strong financial position provides
investors with a sustainable and steady dividend despite market uncertainty. (KL)

Remark: Real time quote last updated: 07/08/2020 17:58
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