[ET Net News Agency, 24 April 2020] Goldman Sachs lowered its target price for New
World Development (NWD)(00017) to HK$11.3 from HK$11.6 but upgraded its rating to "buy"
from "neutral".
The research house said the next key to be launched (in phases) would be Tai Wai Station
project with 3,000 units in total, with a target of pre-sale in mid-2020. Goldman expects
a relatively good response amid an end-user driven market, due to the project's
connectivity (atop a major subway station).
If completely sold at the ASP assumption assumed of HK$19k per square foot SFA, this
project's gross proceed could amount to HK$30bn-plus. After factoring-in the latest sector
growth assumptions, Goldman lowered its FY2020-22 EPS forecasts by up to -9%. (KL)
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00017 NEW WORLD DEV
Nominal 
8.140 +0.230 (+2.908%) Research Report
24/04/2020 16:43
{I-bank focus}Goldman trims New World Development to HK$11.3
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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