[ET Net News Agency, 10 January 2020] J.P. Morgan raised its target price for Hang Lung
Properties (HLP)(00101) to HK$23.1 from HK$19.1 and maintained its "overweight" rating.
The research house said operating performance for HLP is gathering steam in 1H 2020,
with the opening of Spring City 66 (in Kunming) and completion of the renovation of Grand
Gateway 66 in Shanghai.
With the improvement in occupancy and tenant sales throughout 2019, JPM expects moderate
positive rental reversion in 2020. The research house believes dividend is likely to rise
with improvement upon earnings announcement at 1H 2020. (KL)