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HSBC lifts SHK Properties (00016) to HK$156.4
HSBC Global Research lifted its target price for Sun Hung Kai Properties (SHKP)(00016) to HK$156.4 from HK$152, and maintained its "buy" rating.
  The research house said record high contracted sales in HK, sizable land bank
replenishment via farmland reserve, margin expansion and steadily growing rental income
are shown in the scorecard of SHKP's FY2017 results.
  HSBC thinks its consecutive sizable land bank replenishment (7m sqft) via farmland
conversions over the past four months will strengthen its medium-term growth visibility.
  It is positive that SHKP will maintain its lead in the coming years. The stock currently
trades at a 37% NAV discount.

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