智通财经网·2026-02-23 07:47Core Viewpoint - Morgan Stanley has raised its forecast for Hong Kong property price increases from 5%-7% to 10%-15% for this year, expecting an additional rise of about 5% next year, indicating a shift from the "initial recovery" phase to the "expansion phase" in the industry [1] Group 1: Market Outlook - The industry is transitioning into a new phase characterized by an optimistic market environment, with valuation standards shifting from "dividend yield" to "net asset value discount" [1] - The overall target price for the covered sector has been increased by 13% to 49% [1] Group 2: Company Ratings - New World Development (00016) has had its rating upgraded to "Overweight" with a target price of HKD 162, reflecting a 20% discount to net asset value based on historical average levels during the expansion phase [1] - The firm is optimistic about Sino Land (00083) for income-seeking investors, while Henderson Land (00012) awaits clearer performance and dividend policy, with mid-March identified as a better entry point [1]