Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
03380 LOGAN GROUP
RTNominal up12.240 +0.240 (+2.000%)
Research Report

26/02/2020 14:55

{I-bank focus}Nomura ups Logan Property (03380) to HK$16.1

[ET Net News Agency, 26 February 2020] Nomura raised its target price for Logan
Property Holdings (03380) to HK$16.1 from HK$13.9 and upgraded its rating to "buy" from
"neutral".
The research house likes Logan's defensive position supported by its high-value land
bank in the Greater Bay region (land bank life 5.1 years; 66% in Greater Bay). Nomura
expects its contracted sales to register a 23% CAGR in 2020-21, from CNY96bn in 2019 to
CNY144bn in 2021, the highest among mid-cap developers.
The urban renewal projects pipeline brings high visibility for its land bank sufficiency
(we estimate CNY325bn of saleable value, 37% of existing land bank) and DPS growth (26%
CAGR in 2020-21; trading at 9.3% dividend yield now).
It said the conversion of an urban renewal project in Huizhou, which will fetch CNY3bn
of pretax profit in FY2020 (20% of Nomura's FY2020 estimate), may catalyze a share price
re-rating in 2Q. (KL)

Remark: Real time quote last updated: 28/09/2020 17:59
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2020 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.