DBS published a rating report. Hang Lung Properties' basic profit fell 1% year-on-year to HK$4.1 billion last year, which is generally in line with expectations. Undue dividends remained unchanged at HK$0.6, and the option of using shares in exchange for interest was proposed. The Group's overall tenant sales increased 7% year-on-year in the second half of last year. According to the bank, any increase in interest rates or adversely affects the valuation of rental properties in Hong Kong, and any devaluation of RMB will have a negative impact on the valuation and rental contribution of mainland properties. The bank lowered its target price from HK$15 to HK$12.4, maintaining its rating as “buy”.
大行评级｜星展：下调恒隆地产目标价至12.4港元 维持“买入”评级
Bank Rating | DBS: Lowering Hang Lung Properties' Target Price to HK$12.4 to Maintain “Buy” Rating
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