智通财经网·2025-07-31 09:29Core Viewpoint - Morgan Stanley upgraded Hang Lung Properties (00101) from "Neutral" to "Overweight," raising the target price from HKD 7.5 to HKD 10, citing the company's attractive 6.5% dividend yield compared to peers [1] Group 1: Company Performance - The stock has declined by up to 51% from its peak, while peers have only seen a 7% drop, indicating potential for recovery [1] - There is a noticeable improvement in sales from mainland tenants, with the year-on-year decline narrowing from 7% in Q1 to 1% in Q2 [1] - Management expressed cautious optimism for the second half of the year, expecting sales to remain stable or see slight growth, aligning with recent statements from luxury brands like LVMH [1] Group 2: Investor Sentiment - The management confirmed that the annual dividend will remain unchanged and there are no plans for convertible bond issuance, alleviating concerns from two major investors [1]