[ET Net News Agency, 3 January 2020] Citi Research raised its target price for Hysan
Development (00014) to HK$38 from HK$35.3 and upgraded its rating to "buy" from "neutral".
With HK social unrest seeing continuous positive developments, the research house
believes the worst tenant sales performance of Hysan's Causeway Bay portfolio should have
passed in 4Q 2019.
Citi expects a sequential improvement in Hysan's tenant sales through 2020, with the
decline becoming less negative in 1H 2020 and turning into a double-digit positive growth
in 2H 2020. (KL)