Hongkong Land stock moves up as long-awaited strategy reveals dividend boost -JPMorgan By Investing.com
On Wednesday, JPMorgan upgraded Hongkong Land Holdings Limited (HKL:SP) (OTC: HNGKY) stock, shifting the rating from Underweight to Neutral. The financial firm also increased the price target for the company’s stock to $4.10, up from the previous target of $2.85. This adjustment follows Hongkong Land’s recent release of a strategic review which included long-term targets for 2035.
Hongkong Land disclosed its strategy review, setting numerical goals that forecast a compound annual growth rate (CAGR) of 5.9% in earnings before interest and taxes (EBIT) and dividends per share (DPS), along with an 8.7% CAGR in assets under management (AUM).
JPMorgan noted these targets positively, particularly highlighting the company’s commitment to…
