Bank of America Securities released a report, upgrading New World Development (00016.HK) from 'neutral' to 'buy', stating that if the United States begins to cut interest rates, New World Development will be the developer most likely to benefit from the potential recovery of the Hong Kong residential market. Although rate cuts are not a panacea, it is believed that New World Development's stock price has not yet reflected the potential rate cuts in the United States.

The bank predicts that New World Development's dividend per share will rebound by 5% in the 2025 fiscal year after a 23% decline in the 2024 fiscal year. In addition, the bank believes that the property development projects in Hong Kong of New World Development are profitable at a more sustainable level. Catalytic factors include the upcoming launch of 'Tianxi-Tian' in Kai Tak.

Bank of America Securities lowered the target price for New World Development from HKD 87 to HKD 84, based on a 58% discount to the target net asset value (NAV).