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<Research>CLSA Upgrades WHARF REIC (01997.HK) to Outperform, Elevates TP to $40
Recommend 1 Positive 1 Negative 2 |
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WHARF REIC (01997.HK)'s 2025 underlying profit was $6.456 billion, up 5.2% YoY, beating expectation, due to better-than-expected rental performance at Harbour City and higher-than-expected interest savings, CLSA published a research report saying. The broker believed that, since 2H25, the Company's retail sales recovery accelerated, in line with its positive view on Hong Kong luxury sales. Driven by favorable factors such as increased tourist numbers and HKD depreciation, CLSA believed that WHARF REIC will be a major beneficiary. CLSA raised its 2026/ 2027 earnings forecasts for the Company by 2.2%/ 0.3% each, and elevated its target price from $18.8 to $40. The broker also upgraded WHARF REIC from Hold to Outperform. AASTOCKS Financial News Website: www.aastocks.com |
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