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<Research>G Sachs Adds SWIREPROPERTIES (01972.HK) TP to $30 as 2025 Results in Line
Recommend 3 Positive 4 Negative 4 |
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SWIREPROPERTIES (01972.HK)'s FY2025 results were in line with expectations, with healthy recovery in rental income and solid residential sales execution, Goldman Sachs released a research report saying. Therefore, the broker rated SWIREPROPERTIES at Buy, and added its target price from $29 to $30. SWIREPROPERTIES announced a FY2025 reported net loss of $1.5 billion, mainly due to a $7.8 billion revaluation loss from its Hong Kong office portfolio caused by lower rental reversion, despite a 12.5 bps reduction in capitalization rate. Excluding this loss and the gains from the sale of Brickell City Centre, adjacent industrial site and the 43rd floor of One Island East in Hong Kong, its recurring underlying profit fell 3% YoY to $6.26 billion, in line with the broker's expectation. This reflects larger loss from its property trading business due to upfront sales and marketing expenses from several residential project launches. AASTOCKS Financial News Website: www.aastocks.com |
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