HYSAN DEV(HK:00014) Zhi Tong Cai Jing·2025-08-26 03:13Core Viewpoint - Morgan Stanley has raised the earnings per share (EPS) forecasts for Hysan Development (00014) for the years 2025 to 2027 by 1%, 4%, and 7% respectively, reflecting better-than-expected performance in the first half of 2025 and reduced interest costs [1] Company Summary - The EPS forecast for 2025 is adjusted upwards by 1%, for 2026 by 4%, and for 2027 by 7% [1] - The dividend per share forecast for 2025 to 2027 is maintained at HKD 1, compared to HKD 1.08 in 2024, due to expectations that cash earnings will not fully cover dividends [1] - The target price for Hysan Development has been increased from HKD 12.5 to HKD 14.3 [1] Industry Summary - Morgan Stanley maintains a cautious outlook on the overall retail market in Hong Kong due to changes in consumer behavior, expected increase in outbound tourism in the second half of the year, and rising unemployment rates [1] - The firm retains a "reduce" rating as it awaits a substantial and sustainable recovery in the Hong Kong retail market [1]