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<Research>BofAS: WHARF REIC (01997.HK) Rating Reiterated at Buy as 2025 Results In Line
Recommend 3 Positive 4 Negative 2 |
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WHARF REIC (01997.HK)'s 2025 results were in line with expectations, BofA Securities published a research report saying. Therefore, the broker reiterated rating at Buy and kept its target price at $31. BofA Securities also dropped its 2026-2028 DPS forecasts by 1-2% to reflect the gradual pace of rental income recovery. Although the Company's rental income growth may lag, the broker expected that, with the improvement in Hong Kong's macro environment and the strengthening of RMB, as long as the Middle East conflict does not persist, the recovery momentum of retail sales in 2H25 could continue into this year. Furthermore, BofA Securities believed that the Company can benefit in the short term from reduced retail sales outflow and more mainland visitors to Hong Kong, with its current valuation also being attractive. AASTOCKS Financial News Website: www.aastocks.com |
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