[ET Net News Agency, 3 January 2020] Citi Research lowered its target price for Sino
Land (00083) to HK$12.05 from HK$12.3 and maintained its "neutral" rating.
The research house said Sino Land is seen as a proxy to the HK residential segment,
especially post its accelerated land bank acquisitions in HK since 2017. However, with its
2020 launch pipeline mainly focused on luxury residential, Citi believes its sales pace
will be slow in the current environment.
Citi noted that FY2020 also will lack the delivery of major projects, hence it expects a
year-on-year decline in earnings. That said, Sino is still aiming to pay a steadily rising
DPS backed by its abundant cash reserves, while the research house believes the current 5%
yield should provide good downside support. (KL)
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00083 SINO LAND
Nominal 
8.060 +0.010 (+0.124%) Research Report
03/01/2020 17:01
{I-bank focus}Citi lowers Sino Land (00083) to HK$12.05
| Remark: | Real time quote last updated: 24/04/2024 10:26 |
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