The Only Way Is Up for Analysts Revising Hong Kong Targets
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As Hong Kong’s stock analysts rush to play catch-up to the city’s world-beating rally, their only question is how far the gains will go.
Three brokerages boosted Hang Seng Index forecasts Monday, with Bocom International Holdings Co. expecting the measure to rally 14 percent to a record 32,000 by June. Credit Suisse Group AG’s year-end projection of 28,000 was mown down in just a day, with the index up 2.7 percent yesterday to close above that level for the first time since 2007. Goldman Sachs Group Inc. raised its price target on the city’s exchange operator by 61 percent, less than a week after its last increase.