Standard
Chartered Bank tends to prefer rental stocks that have a bigger
proportion of suburban shopping malls as they are more defensive with
low base and continue to benefit from the asset improvement measures.
The bank recommended that investors should switch chips from urban
rental shares to suburban rental shares. HYSAN DEV (00014.HK) -0.150 (-0.409%) Short selling $12.87M; Ratio 38.922% 's
rating was downgraded to Lin-Line, with target price lowered by 15% to
$36.3 by the bank to reflect the high exposure of shopping malls to
urban area. Meanwhile, the bank lifted LINK REIT (00823.HK) +0.450 (+0.979%) Short selling $2.76M; Ratio 1.951% 's target price by 7% to $49.1; FORTUNE REIT (00778.HK) -0.060 (-0.844%) Short selling $612.61K; Ratio 5.687% 's target price was set at $7.62, with the Outperform rating unchanged.
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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