JP
Morgan mentioned in a report that the risks of Hong Kong property
market lie in the further slowdown of China's economy and the possible
increase of Hong Kong unemployment rate. The research house was bearish
towards retail rent-collecting stocks but continued to be positive
towards developers and office rent-collecting stocks. KERRY PPT
(00683.HK) +0.250 (+0.962%) Short selling $6.08M; Ratio 24.829% , WHEELOCK (00020.HK) +0.050 (+0.135%) Short selling $222.75K; Ratio 1.301% , Hongkong Land and HANG LUNG PPT (00101.HK) +0.050 (+0.213%) Short selling $4.90M; Ratio 3.257% were selected as Top Picks among local developers
CLSA lowers Beijing Ent Water (00371) to HK$6 CLSA cut its target price for Beijing Enterprises Water (BEW)(00371) by 8% to HK$6, and reiterated its "buy" rating. The research house said BEW's share price has dropped 14% in the last two trading days. First, the 2017 earnings results are below expectations. Second, management is guiding for 20-25% net profit growth for 2018, versus 30% in the past few years. Management now has a cautious approach to water PPP (public-private partnership) projects, which is not necessarily bad. CLSA cut its 2018-19 earnings forecasts by...
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