Kowloon Warehouse now Falls 2.58% Morgan Stanley to maintain overweight at HK $38

Source: Internet
Author: User
Keywords Retail sales Hong Kong dollar
Tags .net asset balance discount domestic sales group index net
The Kowloon Wharf Group (00004-HK) is now down 2.58%, at HK $28.35, for a transaction of HK $19.0211 million, which is now basically synchronized with the city, with the index falling 2.46%. Morgan Stanley, which maintained its overweight rating, also lowered its target price from HK $27 to HK $38, and the new target price narrowed to 23% per cent at a discount to net asset value. The bank said that retail sales in Hong Kong exceeded expectations, a pick-up in rents, a steady cash flow in domestic sales and a strong balance sheet could lead to growth in land reserves and net asset value.

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