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New World Development's Deleveraging Progress Remains Share-Price Driver -- Market Talk

Dow Jones
8 hours ago

0142 GMT - New World Development's deleveraging progress will likely remain the key driver of its share price, says DBS Group Research in a note. The Hong Kong-listed stock has rallied around 57% over the past three months, and currently trades at a 60% discount to DBS's assessed net asset value. The DBS analysts expect shares to also be affected by the outcome of New World's discussions with the Hong Kong Airport Authority regarding contractual arrangements. Meanwhile, the property developer seems on track to meet its contracted sales target, the analysts say, citing launches set for fiscal 2H. DBS raises its target price to HK$11.17 from HK$7.02 and retains its hold rating. Shares fall 1.9% to HK$9.92. (megan.cheah@wsj.com)

(END) Dow Jones Newswires

March 02, 2026 20:42 ET (01:42 GMT)

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