花旗：料发展商投地意欲增加 升港铁公司(00066)目标价至30港元 评级“沽售”

Group 1 - Citi maintains a "Sell" rating on MTR Corporation (00066) and raises the target price from HKD 24.5 to HKD 30 [1] - The Hong Kong residential property market has bottomed out last year, with expectations of rising property prices and increasing transaction volumes for new residential units [1] - This trend is believed to enhance developers' willingness to participate in MTR's land bidding [1] Group 2 - MTR's capital expenditure on railways is expected to lead to a rising debt ratio over the next few years, indicating that dividends may remain unchanged in the foreseeable future [1] - The current share price is only at a 13% discount to NAV, which is considered expensive compared to other conglomerates like Swire (00019) and Jardine Matheson [1]