Latest Search
Quote
| Back Zoom + Zoom - | ||||
|
<Research>UBS Lifts KERRY PPT's TP to $20.1; Shanghai Luxury Residential Project Launch May Trigger NAV Re-rating
Recommend 5 Positive 9 Negative 5 |
||||
|
||||
|
According to a report issued by UBS, KERRY PPT (00683.HK) is set to launch the first phase of its large-scale residential project "Jinling Residences" in Huangpu District, Shanghai. The project's value is estimated to reach RMB22 billion. Considering its expected selling price and scarcity, the broker believed that the sell-through rate could reach 90%, potentially driving a re-rating of the company's net asset value (NAV). Consequently, the broker raised its forecast for KERRY PPT's NAV per share by 7%. If the project is sold, it is expected that the returned funds could reduce the group's net debt ratio from 40% to 20%. Based on an around 65% NAV discount rate, UBS raised its target price for KERRY PPT from $18.8 to $20.1, with a Buy rating. AAStocks Financial News |
||||
Copied to Clipboard
 |
||||
