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<Research>G Sachs Raises HK Home Prices Forecast to +15% This Yr, Favors HENDERSON LAND/ SHK PPT/, Cuts NEW WORLD DEV TP
Hong Kong residential prices and office rents have fared better than expected since the beginning of this year, prompting another upward revision to forecasts by Goldman Sachs. The...
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<Research>G Sachs Raises HK Home Prices Forecast to +15% This Yr, Favors HENDERSON LAND/ SHK PPT/, Cuts NEW WORLD DEV TP
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Hong Kong residential prices and office rents have fared better than expected since the beginning of this year, prompting another upward revision to forecasts by Goldman Sachs. The broker expected local residential property prices to lift 15% this year (previously forecast to increase 12%), while forecasts for 2027 and 2028 remain unchanged at increases of 7% and 4%, respectively. The broker continued to prefer property developers, which it believed will benefit from a multi-year upcycle in Hong Kong's residential market.

On individual stocks, Goldman Sachs raised TPs for multiple companies. The TP for HENDERSON LAND (00012.HK)  +0.160 (+0.495%)    Short selling $89.66M; Ratio 38.095%   was lifted from HKD38 to HKD41, representing an 8% increment, with a Buy rating and inclusion on the Conviction List Buy. The TP for SHK PPT (00016.HK)  +1.100 (+0.800%)    Short selling $130.21M; Ratio 34.161%   was raised from HKD164 to HKD170, up 4%, with a Buy rating. The TP for SINO LAND (00083.HK)  -0.010 (-0.081%)    Short selling $11.81M; Ratio 11.173%   was added from HKD15.2 to HKD16, up 5%, with a Buy rating.

Related News JPM Raises MSCI Hong Kong Index Base TP to 16,500; Top Picks HKEX (00388.HK), AIA (01299.HK), TECHTRONIC IND (00669.HK), SHK PPT (00016.HK), LINK REIT (00823.HK)
The TP for SWIREPROPERTIES (01972.HK)  +0.120 (+0.508%)    Short selling $8.84M; Ratio 19.974%   was lifted from HKD30 to HKD30.7, up 2%, with a Buy rating. The TP for HANG LUNG PPT (00101.HK)  +0.050 (+0.605%)    Short selling $12.02M; Ratio 20.244%   was maintained at HKD11.5, with a Buy rating. The TP for HYSAN DEV (00014.HK)  +0.100 (+0.524%)    Short selling $9.04M; Ratio 34.020%   was kept at HKD24.9, with a Neutral rating.

However, Goldman Sachs cut the TP for NEW WORLD DEV (00017.HK)  +0.490 (+6.042%)    Short selling $8.87M; Ratio 13.621%   from HKD12.5 to HKD11, representing a 12% drop, with a Neutral rating, owing to its latest assessment of net debt and cash flow. The broker rated WHARF HOLDINGS (00004.HK)  -1.220 (-4.830%)    Short selling $47.18M; Ratio 27.136%   as Sell, with a TP maintained at HKD25, reflecting concerns over its mainland rental income, development property profits and the volatility of its equity investment portfolio.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-22 16:25.)

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