Credit Suisse raised the target price of Sindh Group (0242.HK) from HK$4.03 to HK$6.11, maintaining the stock's outperforming market rating. Credit Suisse believes that the company's Harbour Miles (Harbour Miles) project is likely to be approved in the next 12 months, and expects that the 4.6 million square foot project will increase Sindh Group's net asset value valuation by HK$2.90 per share. Therefore, Credit Suisse raised the stock's net asset value forecast by 36% to HK$11.10. In addition to the potential approval of the South Bay coast project as a catalyst to boost Sindh Group's stock price, Credit Suisse also believes that Sindh's Nova City 4 (Nova City 4), Chatham Garden and columbarium projects will provide Sindh Group with healthy cash flow in 2013. The bank said that considering that the valuation of Sindh Group is 65% off of its net asset value per share, the stock's valuation appears to be the lowest among the comprehensive stocks tracked by the bank.