Bank of America reiterates HYSAN DEV "Buy" rating, believes post-earnings stock price drop is excessive

AASTOCKS
2026.02.27 02:13

The Bank of America research report indicates that HYSAN DEV (00014.HK) had rental income last year that met expectations, reaffirming its "Buy" rating. After accounting for the updated delivery schedule of the Bamboo Grove project and a lower capitalization rate, the earnings per share forecasts for 2026 and 2027 were raised by 2% and lowered by 9% respectively, with the target price slightly decreased by 1% to HKD 24.6.

The bank believes that the company's stock price drop of 7% following the earnings announcement is an overreaction; last year's overall earnings fell short of market expectations, mainly due to the timing of revenue recognition from the Bamboo Grove project and a decrease in investment income. The bank does not consider liquidity to be a major concern, as the company maintains HKD 14.3 billion in available liquidity, sufficient to cover upcoming debt maturities

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