CICC: Cuts Hang Lung Properties (00101.HK) target price by 16% to HK$8, maintains "outperform industry" rating.

Zhitong Finance APP has learned that CICC issued a research report stating that it maintains Hang Lung Properties' (00101.HK) earnings forecast unchanged, maintains the "Outperform" rating, and lowers the target price by 16% to HK$8.0, corresponding to a 6.5% target dividend yield for 2026, 14x 2026 core P/E, and 25% upside potential, mainly considering changes in the industry environment and capital market risk appetite. The bank expects that Hang Lung Properties' mainland mall retail sales year-on-year growth in the third quarter will further slow to a low single-digit level, and that the year-on-year change in retail sales from the fourth quarter of 2026 to the first quarter of 2027 may continue to show a weak trend, but cash profit, dividend-paying capacity, and the balance sheet are expected to remain solid.