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<Research>CLSA Lifts TP for SWIREPROPERTIES to $26, Maintains Outperform Rating
Recommend 18 Positive 8 Negative 18 |
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CLSA's research report covered SWIREPROPERTIES (01972.HK), which had last year's results in line with expectations, with underlying profit growing 27% YoY. The full-year DPS hiked by 5% to HKD1.15, meeting the broker's estimate and the company's dividend growth target. The broker quoted SWIREPROPERTIES management as saying that the company's HKD100 billion investment plan is entering the harvest period, and business development should help the company achieve recurring profit growth in the coming years, supporting sustainable dividend growth. Due to SWIREPROPERTIES' property sales topping expectations, CLSA raised its earnings forecasts for FY26 and FY27 by 11.2% and 0.4%, respectively, and increased the target price from HKD22.2 to HKD26, maintaining the Outperform rating. AASTOCKS Financial News |
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