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will it go high or not huh?
Not only HPL, all big property counters have all gone up alot today - Capitaland, Keppel Land etc. It could be due to the renewed confidence - that the property market will continue to do very well for at least the next 2 years.
What a surge from the whole week of lost ground!!! Tomorrow there will be coverage on Channel U on the F1 maybe this will help this counter to push higher.
"Hotel Properties is predominantly a hotel operator with strong ancillary retail experience accompanied by opportunistic high-end residential developments...and is well-positioned to take advantage of the current real estate re-rating cycle in Singapore" said Cazenoze analyst George Koh in a client note.
Now Cazenove targets $10.18!!!!
We initiate coverage on Hotel Properties Limited (HPL) with
an
gives 77% potential upside.
HPL is predominantly a hotel operator with strong ancillary
retail experience accompanied by opportunistic high-end
residential developments, HPL currently sits on 2.6m sqft
of prime land-bank (with potential to increase to 4.6m sqft)
and is well-positioned to take advantage of the current real
estate re-rating cycle in Singapore.
The current revitalisation of Orchard Road and the
subsequent
District
space. However, we feel that policy changes such as
significant Plot Ratio increases for commercial usage are
necessary in order to coax the likes of HPL to seriously
consider redevelopment. We have assumed enhanced Plot
Ratios of 8x for its land-bank, which we estimate will add a
potential $2.6bn/$5.80 per share.
HPL?s ability to deliver consistent superior finishes to its
high-end residential developments ensures premium
pricing for its current projects (Beverley Mai and Horizon
Towers). Targeted for launch over the next 24 months,
these two projects are expected to yield $530m/$1.17 per
share.
Further upside could come from successful en-bloc
acquisition of Ming Arcade and the possible buyout of the
neighbouring plot (Moral Uplifting Society) at Cuscaden Road.
OUTPERFORM rating and a fair-value of S$10.18, whichplot ratio intensification within the Artsprovides only for a marginal enhancement of landWe believe near-term newsflow is likely to remain positive
ongoing prime residential project launches, further en-bloc
activities and potential policy changes in the upcoming
Master Plan revision. Despite the recent share price rally,
HPL trades at only 56% of our RNAV. We initiate coverage
with an
withOUTPERFORM recommendatioDBSVickers targets $7.29!! CHEONG AH!!!
Target price raised to S$ 7.29, factoring in Orchard Redevelopment.
potential redevelopment of HPL?s key assets now viewed as a likely
scenario where timing is the only issue. We now factor in potential
redevelopment surplus into our RNAV estimate using 7x plot ratio based
on the Orchard Turn scenario. We also factor in development profits from
The MET Bangkok project, and raise our RNAV estimate accordingly from
S$4.29 to S$6.07. We maintain our 20% premium, to account for potential
upside moving forward from i) rising hotel capital values from higher
room rates; ii) catalyst triggering redevelopment from GFA incentives
potentially surprising on the upside; iii) 0.8m sf prime residential landbank
benefiting from benchmark residential prices achieved; and iv) value
creation from further land bank accumulation. Therefore, we raise our
target price to S$ 7.29 and maintain Buy on
WithI am absolutely certain that BT and or ST reported about 3 weeks ago that OBS was vying for F1 in his personnal capacity........So, if ppl choose not to verify the validity of the rumours, then thats the risk they take and should not blame the press or anyone for their folly.
Anyway, it'll be interesting to see the price of HPL tomorrow.
iPunter,
Probably so for the early birds......
shplayer...
But I thought those who have acted on the rumours have already benefited from the price rise?
Time for your shorting specialist - Mr. Nickyng ... Hahaha...
Peace
News that OBS is negotiating the F! deal in his personnal capacity was reported some 3 weeks ago.
In my post of 19 Mar, in the 'HPL - no title' thread, I highlighted this too.
So, I think if ppl choose to blindly follow rumours only have themselves to blame for their misstep.
WOW, what a great joke......? Now then anounce in the newspaper that THEY ARE NOT INVOLVED IN THE F1 BID.......
Why are they not clarify when there rumours they are involved.....Feel like cheated.........
Monday the price will drop at least $3. DAMN IT MAN....