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<Research>JPM Favors SWIREPROPERTIES (01972.HK) for High Div. Certainty; Rating Overweight
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SWIREPROPERTIES (01972.HK) announced its annual results for the year ended December 2025 yesterday, with an underlying net profit (including disposal gains) increasing by 27% YoY to $8.6 billion, JPMorgan released a research report saying. However, recurring underlying profit declined by 3% YoY to $6.3 billion due to a downturn in Hong Kong office business and the sale of a Miami mall. Both figures beat the broker's expectations. Overall, the results were largely in line with JPMorgan's forecasts. JPMorgan was optimistic about SWIREPROPERTIES for three reasons, including high certainty in dividends, with a commitment to achieving mid-single-digit growth in DPS; improving mainland China's retail business; and active capital recycling with a good track record. Therefore, the broker rated SWIREPROPERTIES at Overweight, with a target price of $27. AASTOCKS Financial News Website: www.aastocks.com |
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