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<Research>Citi Sets New TP for LINK REIT at $45, Maintains Buy Rating
Recommend 9 Positive 13 Negative 8 |
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Citi published a research report forecasting that LINK REIT (00823.HK) will see a 9% YoY downfall in DPU in 2H. Additionally, rental renewals for Hong Kong's retail business were expected to drop by 7-8% (vs -6.4% in 1H), factoring in the lag effect of retail downturn, severance costs, and mall maintenance expenses. The broker anticipated improvement in the company's results in FY2027-28, fueled by a recovery in retail sales momentum, tenant restructuring, enhanced space productivity, and reduced interest costs. It also expected savings of over HKD200 million in staff and general administration. Citi maintained a Buy rating for LINK REIT and set a new target price of HKD45. AASTOCKS Financial News Website: www.aastocks.com |
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