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<Research>JPM Expects Developers' Earnings to Likely Rebound in Next Fiscal Yr, Upgrades NEW WORLD DEV to Neutral
Recommend 13 Positive 12 Negative 5 |
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The results season for Hong Kong homebuilders will commence at the end of January, JPMorgan released a research report saying. While the broker expected the earnings of most companies to continue declining and saw limited impact from the improvement in the Hong Kong residential market on FY2025 reports, it is believed that the upcoming results might be the trough for most companies, with a significant chance of earnings rebounding in the next fiscal year. Therefore, JPMorgan upgraded NEW WORLD DEV (00017.HK) to Neutral, as the market's biggest concerns have been largely reflected, and the upcoming results might show slight improvement. In terms of top picks, among landlords (shopping malls/office buildings), the broker favored HANG LUNG PPT (00101.HK) and SWIREPROPERTIES (01972.HK). Among developers, JPMorgan preferred SINO LAND (00083.HK). The broker also optimistic about Hongkong Land, but suggested waiting for a better entry point. The latest ratings and target prices of the sector are listed in a separate table. AASTOCKS Financial News Website: www.aastocks.com |
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