Citi: Downgrades Hysan Development (00014.HK) to Sell and lowers target price to HKD 15.69

According to the Zhitong Finance APP, Citigroup has released a research report stating that the positive factors for retail have largely been reflected. Henderson Land Development (00014.HK) faces challenges from office buildings, unclear factors regarding Lee Garden Six, and limited flexibility in its balance sheet. As a result, the rating has been downgraded from "Buy" to "Sell," and the discount on the target net asset value (NAV) has been expanded from the original 45% to 65%. The target price has been significantly reduced by 35.4% from HKD 24.3 to HKD 15.69, corresponding to a target yield of 7%.