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<Research>JPM Adds HANG LUNG PPT (00101.HK) TP to $5.8 as Shr Price Supported by 8-9% Div. Yield
HANG LUNG PPT (00101.HK) showed signs of stabilizing tenant sales in 4Q24, but management remained conservative in its results briefing, JPMorgan released a research report saying....
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<Research>JPM Adds HANG LUNG PPT (00101.HK) TP to $5.8 as Shr Price Supported by 8-9% Div. Yield
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HANG LUNG PPT (00101.HK)  -0.060 (-0.966%)    Short selling $16.63M; Ratio 45.033%   showed signs of stabilizing tenant sales in 4Q24, but management remained conservative in its results briefing, JPMorgan released a research report saying.

Moreover, the broker added that HANG LUNG PPT's base is still high for 1Q25, but it will become lower starting in 2Q25. Therefore, JPMorgan could see YoY growth as early as 2Q25 if the trend of luxury retail sales in mainland China stabilizes further.

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JPMorgan saw HANG LUNG PPT as a new bright spot in China's luxury retail industry, but so far market consensus remains low and the broker has not seen evidence of a sustainable recovery.

As a result, the broker believed that HANG LUNG PPT's share price is likely to trade range-bound in the short term, with the downside supported by a dividend yield of 8-9%. The broker added its target price to $5.8 from $5.3, with rating at Neutral.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-01-28 12:25.)

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