Goldman Sachs Raises SHK PPT Target Price to HK$164, Citing In-Line First-Half Results

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Goldman Sachs issued a research report stating that SHK PPT's (00016) financial results for the first half of the 2026 fiscal year, ending December last year, were in line with expectations. During the analyst briefing, the company expressed a more optimistic outlook for its Hong Kong property business. Considering the slightly higher development margins for certain Hong Kong property projects, Goldman Sachs increased its earnings per share forecast for SHK PPT for the 2027 to 2028 fiscal years by 2% to 13%. The firm also raised its target price from HK$159 to HK$164, maintaining a "Buy" rating.

The report noted that SHK PPT's interim dividend increased by 3% year-over-year to HK$0.98, indicating strengthened confidence from management regarding the business outlook. The company maintains its dividend policy of distributing 40% to 50% of underlying net profit for the full year. Assuming a 48% payout ratio, Goldman Sachs forecasts a total annual dividend of HK$3.96 for SHK PPT, implying a 6% year-over-year increase.

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