Morgan Stanley published a technical opinion report stating that it is believed that the stock price of Jiucang (00004) will outperform the market in the next 60 days. The probability of this happening is more than 80%. The bank gave it an “increase in holdings” rating and target price of HK$27. This is valued at a 50% discount on its net asset value per share (NAV).

According to the bank, it gave Jiucang an “increase in holdings” rating because the future rent revenue growth of its Chengdu International Financial Center (IFS) property was higher than expected, and the opening of the Changsha International Financial Center had a positive impact, and it is expected that the mainland property sector is expected to stabilize this year. The bank said that the current valuation of Jiucang is cheap, with a 60% discount compared to NAV per share.