JPMorgan: Cuts Hang Lung Properties (00101.HK) target price to HK$6.6, downgrades rating to "Neutral"

Zhitong Finance APP has learned that JPMorgan issued a research report stating that it has lowered the target price of Hang Lung Properties (00101.HK) from HK$10 to HK$6.6, equivalent to a 71% discount to net asset value per share, and downgraded its rating from "Overweight" to "Neutral." The bank pointed out that Hang Lung Properties' tenant sales growth in mainland China slowed from 9% in the second quarter to 3% in the third quarter, and turned slightly negative during the National Day Golden Week period.