HK's hotel operator Shangri-La Asia hits 8-week high, Daiwa upgrades to 'outperform'

Shangri-La Asia

02/09/2020 08:05

** Shares of hotel operator Shangri-La Asia  0069.HK  rise
as much as 2.6% to HK$6.62, their highest since July 10
    ** Stock on track for a second straight session of gain 
    ** Brokerage Daiwa upgrades Shangri-La Asia to "outperform"
from "hold" and lifts target price to HK$7 from HK$6.60
    ** Says H2 should be marginally better than H1, with
negatives largely priced in and investment property business to
remain profitable  
    ** The Hong Kong benchmark index  .HSI  slides 0.4%
    ** As of last close, Shangri-La Asia stock down 20.8% this
year

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)