Bank of America Securities: Raises target prices for Hong Kong real estate stocks by an average of 12% due to valuation recovery, recommending WHARF REIC and HYSAN DEV
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Bank of America Securities raised the target price for Hong Kong real estate stocks by an average of 12%, believing that the sharp decline in Hong Kong interbank offered rates has triggered a valuation recovery. Despite improvements in fundamentals, the trend of asset prices may remain unchanged, with a forecast that Hong Kong residential property prices will drop by 3-5% in 2025. Bank of America prefers Henderson Land Development, recommending Wharf REIC and HYSAN DEV
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