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<Research>CLSA Expects NEW WORLD DEV (00017.HK) to Turn Operating Cash Flow Positive in FY2026, Elevates TP to $10
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NEW WORLD DEV (00017.HK) narrowed its losses in 1HFY2026 due to the recovery in Hong Kong's property market, and is expected to gain profit this fiscal year, benefiting from debt exchange gains, according to CLSA's research report. The Company's management is confident in achieving its $27 billion contract sales target for the whole fiscal year, which is expected to turn the full-year operating cash flow from negative to positive, the broker noted. CLSA believed that NEW WORLD DEV's cash flow pressure will decrease over the next 12 months, but the situation remains uncertain thereafter due to fewer high-quality saleable resources and more debt maturing. Therefore, the broker elevated its target price for NEW WORLD DEV from $4.1 to $10, but kept rating at Hold. AASTOCKS Financial News Website: www.aastocks.com |
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