THE WHARF (HOLDINGS) LTD(4.HK) : OW: RISKS RISING WITH GREENTOWN DEAL BUT IMPACT MINIMAL
汇丰银行(中国)有限公司2014-05-16
SUNAC is in negotiations to acquire at most a 30% stake of Greentown Risks rising on how Wharf manages Greentown, but valuation impact should be minimal Reiterate Overweight with an unchanged TP of HKD62; the stock is trading at a 34% discount to NAV