[ET Net News Agency, 3 January 2020] Citi Research cut its target price for New World
Development (NWD)(00017) to HK$14.3 from HK$14.6 and maintained its "buy" rating.
The research house believes NWD's HK/China landbank has reached a harvesting stage with
a decent launch schedule from 2020 onwards. The developer has a mega Tai Wai Station
project with 3,090 units (2m square feet) scheduled for launch starting from 1H20, which
should serve as a strong catalyst for higher contracted sales. Its China sales should also
achieve the Rmb20bn target for FY2020 on abundant saleable resources in Greater Bay Area.
NWD has planned to increase core HK IP (investment properties) by 3x and China IP by 6x
by FY2025/26. (KL)
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00017 NEW WORLD DEV
Nominal 
7.670 +0.260 (+3.509%) Research Report
03/01/2020 14:08
{I-bank focus}Citi cuts New World Dev (00017) to HK$14.3
| Remark: | Real time quote last updated: 18/04/2024 12:23 |
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