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<Research>CCBI Raises LINK REIT (00823.HK) TP to $45; Potential Huge despite Laggard
Recommend 10 Positive 18 Negative 9 |
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It is difficult for LINK REIT (00823.HK) to avoid rent decline, CCBI released a research report saying. However, the broker believed that buybacks, mergers and acquisitions (M&A) and the inclusion of REITs in the Southbound Trading of Stock Connects will be a catalyst for the share price. Although LINK REIT is a laggard, it has great potential. Therefore, CCBI raised its target price from $43 to $45, with rating kept at Outperform. LINK REIT held a conference call last week and announced its operating data for the first fiscal quarter ended June, in which retail sales in Hong Kong shopping malls dropped by 5.9%, slightly better than the overall retail market of Hong Kong, according to the report. It is expected that the rental reversion in FY2025 will be flat. AAStocks Financial News |
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