HYSAN DEV(00014) 智通财经·2024-02-26 07:57Core Viewpoint - Bank of America Securities has issued a research report recommending a "buy" rating for Hysan Development (00014), while lowering the target price from HKD 17.2 to HKD 16.5, reflecting a downward revision of the per-share NAV forecast [1] Financial Performance - The company's performance last year slightly missed expectations, with the per-share dividend reduced to HKD 1.08, resulting in a payout ratio of 61% [1] - Management has reiterated a commitment to stable dividend growth, and the firm believes that earnings have bottomed out [1] Future Projections - Retail revenue is expected to grow by 6% this year, which is anticipated to offset the decline in office rental income [1] - The current stock price represents a 74% discount to the per-share NAV, with a dividend yield of 8.2%, indicating an attractive investment level [1]