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<Research>BofAS Upgrades SHK PPT (00016.HK) to Buy, Trims TP to $84
Recommend 9 Positive 11 Negative 14 |
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BofA Securities issued a research report upgrading SHK PPT (00016.HK) from Neutral to Buy, and saying that SHK PPT would be the best positioned developer to benefit from the potential stabilization of Hong Kong's residential market, if the US starts to cut interest rates. Although rate cut is not a panacea, it is believed that SHK PPT's share price had not priced in the potential rate cut in the US. Therefore, BofA Securities trimmed its target price for SHK PPT from $87 to $84, based on a 58% discount to its target NAV. AAStocks Financial News |
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