Citigroup maintained Hang Lung Group's buying rating (0010.HK); raised the target price from HK$36.53 to HK$46.84, based on more optimistic expectations for Hang Lung Group's real estate development and investment property business. The bank said Hang Lung Group would benefit from a more positive outlook for the retail industry in mainland China and stronger momentum in the Hong Kong housing market. Citi added that the continued strong momentum of the Hong Kong housing market makes it more likely to launch more units in the near future; if this situation is implemented, it will contribute earnings to fiscal year 2010 and provide cash for its further potential acquisitions in mainland China. The stock closed down 0.66% to HK$37.75.
花旗将恒隆集团(0010.HK)的目标价升至46.84港元
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