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00101 HANG LUNG PPT
RTNominal down8.370 -0.030 (-0.357%)
Others

05/11/2019 18:01

{I-bank focus}CLSA lowers Hang Lung Properties to HK$15.6

[ET Net News Agency, 5 November 2019] CLSA lowered its target price for Hang Lung
Properties (HLP)(00101) to HK$15.6 from HK$20 and downgraded its rating to "sell" from
"outperform".
The research house said HLP should face huge rental pressure given the worsening outlook
in the Hong Kong retail and office markets. Without a timetable for unsold inventory, the
growing portfolio in China will just cover the shortfall in HLP's FY2019 earnings and
absolute DPS.
CLSA expects a worse decline in FY2020. It lowered its 2020-21 earnings forecasts by
20.9-27.3% to reflect declining rents and slower property sales in Hong Kong. (KL)

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