HSBC: Maintains Henderson Land (00101) as top pick with target price of HK$10.

The Zhitong Finance APP has learned that J.P. Morgan has released a research report stating that the target price for Henderson Land Development (00101) is 10 Hong Kong dollars with a "hold" rating. The group recently announced the successful acquisition of long-term operating leases for the expansion projects at 1038 Nanjing West Road in Shanghai and Henderson Plaza in Wuxi. Management has stated that the forecasted internal rate of return (IRR) for each new light asset project is in the double digits percentage-wise, with a payback period within ten years. The addition of these 3 new light asset leases will collectively add 185,000 square meters to the group's property portfolio.