Morgan Stanley predicts that the stock price of Longfor Properties (01113) will rise in the next 60 days, and the company may repurchase shares after selling assets.

Morgan Stanley released a research report stating that CK ASSET (01113) is the bank's top pick in the Hong Kong property sector, with a target price of 57 Hong Kong dollars and a "buy" rating. It is expected that the stock price of CK ASSET will rise in the next 60 days, mainly due to the company's announcement of the sale of UK power grid assets for 10.5 billion, at a premium to the Regulated Asset Value (RAV). If the transaction is completed, the group will record a profit of HK$8.4 billion, with net proceeds of HK$22.2 billion, which is expected to convert into net cash by the end of the year. The bank believes that the group may have the opportunity to conduct share buybacks after selling the UK power grid. In addition, the successful launch of the Victoria Blossom project in the Kai Tak development and the improvement in leasing at the China Resource Group Center Phase 2 may also serve as further catalysts for the stock price.