Daiwa: Henderson Land Development (00012.HK) profit forecast lowered, target price cut to 30 Hong Kong dollars.

According to the financial news app, Morgan Stanley released a research report stating that based on a discounted net asset value of about 50% per share, the target price of Henderson Land Development (00012.HK) has been reduced from 31 Hong Kong dollars to 30 Hong Kong dollars. It is expected that Hong Kong property prices may have bottomed out, and Henderson Land will be the main beneficiary of stable property prices and improved market sentiment, possibly benefiting from the upcoming interest rate cut by the Federal Reserve. Morgan Stanley expects Hong Kong residential property prices to remain flat this year, while office and mall rents may decline by 5% year on year.