[ET Net News Agency, 10 January 2020] J.P. Morgan raised its target price for Sun Hung
Kai Properties (00016) to HK$117.9 from HK$103.24 and maintained its "neutral" rating.
The research house said SHKP is a market proxy stock that suffers from any short term
negative sentiment in the retail market and the initial downside on the Central office
market. JPM also thinks retail and office's downward trend is likely to be offset by the
improvement in sentiment in the residential market.
The winning of the commercial project in West Kowloon is considered a long-term
accretion rather than a short-term catalyst, JPM added. (KL)