---
title: "Goldman Sachs raises New World Development's target price to HKD 164, with first half fiscal year performance in line with expectations"
description: "Goldman Sachs reported that New World Development's performance for the first half of the 2026 fiscal year met expectations, with dividends increasing by 3% year-on-year to HKD 0.98, indicating manage"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/277137318.md"
published_at: "2026-02-27T03:30:19.000Z"
---

# Goldman Sachs raises New World Development's target price to HKD 164, with first half fiscal year performance in line with expectations

> Goldman Sachs reported that New World Development's performance for the first half of the 2026 fiscal year met expectations, with dividends increasing by 3% year-on-year to HKD 0.98, indicating management's increased confidence in the business outlook. The company maintains a dividend policy of distributing 40% to 50% of its underlying net profit for the full year, with an expected total dividend of HKD 3.96 for the year, representing a 6% year-on-year increase. Goldman Sachs raised its earnings per share forecast for the fiscal years 2027 to 2028 by 2% to HKD 13, and increased the target price from HKD 159 to HKD 164, maintaining a "Buy" rating

Goldman Sachs released a report indicating that Sun Hung Kai Properties (00016.HK) met expectations for the first half of the fiscal year 2026 ending in December last year, and expressed a more optimistic outlook on Hong Kong's property business during the analyst briefing.

The report stated that Sun Hung Kai's interim dividend increased by 3% year-on-year to HKD 0.98, reflecting management's increased confidence in the business outlook. The annual dividend policy remains at a payout ratio of 40% to 50% of basic net profit. Assuming a 48% payout ratio, Goldman Sachs expects Sun Hung Kai's total annual dividend to be HKD 3.96, representing a year-on-year increase of 6%.

Considering the slightly higher development profit margins of some property projects in Hong Kong, Goldman Sachs raised its earnings per share forecast for Sun Hung Kai for the fiscal years 2027 to 2028 by 2% to HKD 13, and raised the target price from HKD 159 to HKD 164, maintaining a "Buy" rating

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.