Lyon: Analyst raises target price of HYSAN DEV (00014) to 18.3 Hong Kong dollars, maintains "outperform" rating.

Lyon released a research report stating that HYSAN DEV (00014) recorded revenue growth in all of its property divisions in the first half of the year. Due to the redevelopment of Lee Garden, Hysan's Lee Garden retail portfolio outperformed the overall market in Hong Kong, which is expected to continue driving profit growth in the next two years. The company has initiated a 8 billion yuan capital recycling plan, which should help to deleverage and enhance shareholder returns. Due to Hysan's strong operational performance, as well as the increasing expectations of a rate cut in the United States, the bank has raised Hysan's target price from 13.5 Hong Kong dollars to 18.3 Hong Kong dollars and maintained an "outperform the market" rating.