[ET Net News Agency, 10 January 2020] J.P. Morgan slashed its target price for Hysan
Development (00014) to HK$27.4 from HK$28.2 and maintained its "underweight" rating.
The research house said the significant impact on retail sales from social events is
likely to be carried forward into 2020. Although the lower turnover rent ratio may cushion
immediate downside risk, pressure on negative base rent reversion and rental concession is
still significant.
JPM thinks continued tenant reshuffling to cater for more domestic consumption and more
affordable/experience-related options is likely to put pressure on passing rents as well.
The only downside cushion for Hysan is its full-year contribution of LG3 and some property
development earnings to be recognized in 2022, JPM noted. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00014 HYSAN DEV
Nominal 
11.820 -0.060 (-0.505%) Research Report
10/01/2020 14:03
{I-bank focus}JPM cut Hysan Development (00014) to HK$27.4
| Remark: | Real time quote last updated: 25/04/2024 18:00 |
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