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<Research>UBS Downgrades SHK PPT to Neutral w/ TP HKD96
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SHK PPT (00016.HK), as one of Hong Kong's largest developers, has likely benefited from the recovery in the residential market, given that its stock price has snowballed by 29% YTD, UBS wrote in its research report.

With SHK PPT's dividend yield staying below 4%, however, UBS believed the risk-reward was more balanced, as there would be limited room for dividend per share growth in FY26.

Related NewsUOB Kay Hian Keeps Equalweight on CN/ HK Property Sectors, Upgrades KERRY PPT to Buy
UBS downgraded SHK PPT's rating from Buy to Neutral, with a target price of HKD96.
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