[ET Net News Agency, 17 January 2020] Daiwa Research lifted its target price for Hang
Lung Properties (HLP)(00101) to HK$26.4 from HK$25.7 and maintained its "buy" rating.
The research house visited HLP's Grand Gateway 66 in Shanghai and Center 66 in Wuxi in
December 2019, which reinforced its view that HLP's China malls are progressing on a
promising track and that HLP has strong credentials to be a turnaround stock in 2020.
Daiwa believes the AEI (asset enhancement initiative) for Grand Gateway 66 has
rejuvenated the mall's image and noted that it is moving up in terms of positioning, with
the ground floor now consisting mostly of luxury brands.
Meanwhile, the luxury segment of Center 66 continues to do well, with several brands
that were previously in department stores coming to this mall. With Center 66, Daiwa
believes HLP has proved it can ramp up both the luxury and non-luxury segment of its malls
outside Shanghai. (KL)
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00101 HANG LUNG PPT
Nominal 
8.400 0.000 (0.000%) Others
17/01/2020 10:01
{I-bank focus}Daiwa lifts Hang Lung Properties to HK$26.4
| Remark: | Real time quote last updated: 25/04/2024 08:29 |
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