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<Research>M Stanley Cuts NEW WORLD DEV (00017.HK) TP to $8, Reiterates Rating at Underweight
Recommend 13 Positive 29 Negative 25 |
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NEW WORLD DEV (00017.HK) is not a major beneficiary of the recent rise in trading volume/ property prices in Hong Kong's residential market, Morgan Stanley released a research report saying. Morgan Stanley said that the Company's dividend is not funded by recurring profits, and the annualized dividend yield is still lower than its peers. Therefore, Morgan Stanley cut its target price on NEW WORLD DEV from $10 to $8, and reiterated rating at Underweight. AAStocks Financial News |
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