[ET Net News Agency, 23 July 2021] HSBC Global Research lowered its target price for
Bay Area Dev (00737) to HK$3.9 from HK$4.2 and maintained its "buy" rating.
The research house said it thinks the progress of land development and GS Superhighway
widening could be key catalysts for the share price. Downside risks include GS
Superhighway widening project financing; less-than-expected traffic growth; and exchange
losses due to depreciation of the RMB. (RC)