UBS upgraded its rating on Huaku stock to “buy” from “sell” and raised its target price to NT$99 from NT$59, while HSBC retained an “overweight” rating on Huaku shares and raised its target price to NT$95 from NT$87.
Meanwhile, Credit Lyonnais Securities Asia (CLSA) on Friday said Hung Sheng Construction Co (宏盛建設), which launched the landmark residential complex The Palace ( 帝寶 ) in central Taipei in 2004, would benefit from the property boom in New Taipei City’s Tamsui District (淡水) this year.
CLSA gave a “buy” rating on Hung Sheng shares with a target price of NT$34.20 because the government is planning several development projects in the Tamsui area and the company has several projects there. The government projects include an MRT line, an expressway along the Tamsui River and a bridge linking Tamsui to Bali District (八里).
Hung Sheng shares ended 5.95 percent higher at NT$24.05 on Friday.