＜Research＞JPM Cuts HANG LUNG PPT (00101.HK) TP to $5.3, Expects Shr Price to Likely Dwell at Bottom

　　JPMorgan noted in a research report that shares of HANG LUNG PPT (00101.HK) +0.060 (+1.064%) Short selling $70.16M; Ratio 19.045% fell after the announcement of its interim results. Although the dividend cut is larger than expected, it has already helped remove some of the uncertainty. This also meant full-year dividend would also fall 33% YoY to HK52 cents, giving a full-year dividend payout ratio of 70% and reaching a more sustainable level.

　　JPM said HANG LUNG PPT is cautious about luxury retail sales in China. The broker did not expect a re-rating of the group until there is an inflexion point in luxury retail sales, but predicted that its share price may hover at the bottom in the near term.

　　Related NewsHSBC Research Chops HANG LUNG PPT (00101.HK) TP to $6.9 as Biz Operation Remains Solid

　　JPM dropped the company's target price to $5.3.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-30 16:25.)

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