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<Research>M Stanley Predicts 5% Drop in HK Jan and Full-Yr Retail Sales, Prefers LINK REIT
Recommend 16 Positive 20 Negative 14 |
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Morgan Stanley has issued a research report predicting that Hong Kong's retail sales will decline by 5% YoY in January and throughout the year. The broker also noted that structural trends, including a decrease in mainland visitors to Hong Kong, changes in consumer behavior, and Hong Kong people traveling abroad, will persist. Morgan Stanley favored residential property developers over retail and office landlords. Among retail landlords, the broker preferred LINK REIT (00823.HK) over HYSAN DEV (00014.HK) and WHARF REIC (01997.HK) mainly due to its more stable earnings and dividend outlook. The broker set a target price of $41 for LINK REIT with an Overweight rating, while the target prices for HYSAN DEV and WHARF REIC were set at $13 and $20 and both companies were rated as Underweight. AAStocks Financial News |
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