[ET Net News Agency, 10 January 2020] J.P. Morgan raised its target price for New World
Development (NWD)(00017) to HK$12.8 from HK$10.5 and maintained its "overweight" rating.
The research house believes the positive feedback of Victoria Dockside will translate
into a pick-up of earnings contribution from 1H 2021. The potential launch of Tai Wai
Station project Phase 1 in 1Q 2020 is another sign of improving execution of management.
NWD is also a beneficiary of an acceleration in farmland conversion. Other catalysts
include the full-year contribution of FTLife Insurance from NWS (00659) level and
expectations for other non-core asset disposals. (KL)