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<Research>M Stanley Names SHK PPT/ HENDERSON LAND/ CK ASSET as Top Picks for Developers, Forecasts 10% Growth in Home Prices This Yr
Recommend 9 Positive 16 Negative 7 |
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Morgan Stanley expects Hong Kong's home prices to rise 10% this year on increased demand from mainland buyers, depleting inventories, limited supply, and falling interest rates. The broker also estimates rents to grow 5% this year, as talent inflows will drive strong rental performance, which will in turn push up yields, positive carry gains and investment demand. Morgan Stanley has raised the target prices of multiple real estate stocks, among which SHK PPT (00016.HK) and HENDERSON LAND (00012.HK) are its top picks, with target prices raised from HKD105 and HKD30 to HKD120 and HKD36 respectively. Both are rated as Overweight. CK ASSET (01113.HK) is also one of Morgan Stanley's top picks. Its rating has been upgraded from Equalweight to Overweight, with a target price raised from HKD39 to HKD47. AAStocks Financial News |
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