[ET Net News Agency, 10 January 2020] J.P. Morgan raised its target price for Henderson
Land Development (HLD)(00012) to HK$49.4 from HK$46 and maintained its "overweight"
rating.
The research house said HLD is increasing asset turnover of its overall business
portfolio, including non-core asset disposals such as commercial assets, residential
sites, or farmland projects.
JPM also expects the application of PPP (public-private partnership) farmland conversion
to start in 2020. It thinks healthy growth of rental income will continue to support its
generous dividend increase, along with 10% bonus shares. (KL)