[ET Net News Agency, 3 January 2020] Citi Research lifted its target price for Wheelock
& Co (00020) to HK$58.3 from HK$56.8 and maintained its "buy" rating.
Driven by high sell-through on each of its HK projects with significant unbooked sales
of over HK$40bn, Wheelock has already locked in most of its HK property sales revenue for
FY2019 (Oasis Kai Tak), FY2020 (Malibu) and FY2021 (Montara, Grand Montara, Marine & Grand
Marini), the research house said.
The developer has also planned a strong launch pipeline in 2020 to sustain its earnings
momentum. Citi revised its 2019-21 EPS forecasts by -2.6% to +0.6% on changes in HK
residential, office and retail assumptions and incorporated new estimates from Wharf REIC
(01997) and Wharf Holdings (00004). (KL)
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03/01/2020 15:57
{I-bank focus}Citi lifts Wheelock & Co (00020) to HK$58.3
| Remark: | Real time quote last updated: 19/04/2024 07:40 |
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