CICC: Maintains Henderson Land Development (00101.HK) outperform rating, raises target price to 9.46 Hong Kong dollars.

According to the Wisdom Financial APP, CICC released a research report stating that it maintains Hang Lung Properties (00101.HK) with an outperform rating and unchanged profit forecast. Considering the landing of the Fed interest rate cut and improving market sentiment, the target price is slightly raised by 6% to HK$9.46 per share, corresponding to a target core P/E of 15 times in 2025, a target dividend yield of 5.5%, and an upward potential of 8%. The company is trading at 14 times the core P/E in 2025 and a dividend yield of 5.9%. The bank has increased confidence in the company's operating performance in the second half of this year and next year.