HongKong Land - CGS-CIMB Research 2021-11-02: Recentralisation To Drive Better Operations

HongKong Land - Recentralisation To Drive Better Operations

HONGKONG LAND HOLDINGS LIMITED (SGX:H78) | SGinvestors.ioHONGKONG LAND HOLDINGS LIMITED (SGX:H78)
  • Since its announcement of a share buyback programme, Hongkong Land's share price is up 30%. 18% of its total repurchase budget has been used as of 1 Nov.
  • Central office rents are back at pre-financial crisis levels; we believe they are attractive enough for large corporations to return, leading to “recentralisation”.
  • We believe its Central office vacancy reached a short-term peak, and could moderate as borders reopen over the next 6-9 months.
  • Reiterate ADD call on Hongkong Land (SGX:H78) with a higher target price of US$6.30, based on a narrowed 40% discount to NAV.



Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.



Raymond CHENG CFA CGS-CIMB Research | Will CHU CFA CGS-CIMB Research | Steven MAK CGS-CIMB Research | https://www.cgs-cimb.com 2021-11-02
SGX Stock Analyst Report ADD MAINTAIN ADD 6.30 UP 5.700




Read also CGS-CIMB's most recent report:
2022-03-05 Hongkong Land - More Involvement In China Development Properties & Investment Properties

Relevant links:
Hongkong Land Analyst Report,
Hongkong Land Target Price,

Hongkong Land Share Price History,
Hongkong Land Announcements,
Hongkong Land Dividends/ Corp Actions,
Hongkong Land News Articles





Advertisement










Stock / REIT Search

Advertisement

Advertisement