Morgan Stanley: Expects HANG LUNG PPT to Outperform Market in Next 60 Days with HK$9 Target Price
Deep News
Sep 05
Morgan Stanley has released a research report stating that it believes HANG LUNG PPT (00101) will outperform the broader market within the next 60 days, with an estimated probability of over 80%. This outlook is based on observations of improving trends in China's luxury retail sales, driven by rising stock markets, enhanced market sentiment, increased attention on domestic brands, and growing inbound tourism.
Morgan Stanley considers HANG LUNG PPT's price-to-book ratio of 0.3x and dividend yield of 6.5% to be attractive. The firm has assigned a target price of HK$9 to HANG LUNG PPT with a "Buy" rating.
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