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<Research>M Stanley Lifts WHARF REIC's TP to HKD22.5, Rating Underweight
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Morgan Stanley has issued a research report raising its 2025-27 basic earnings per share forecasts for WHARF REIC (01997.HK) by 4%/ 4%/ 1%. The adjustments mainly reflected (1) lower-than-expected rental renewal reductions for retail and offices; (2) assumptions of lower interest costs; and (3) intensified deleveraging efforts. In addition, Morgan Stanley's forecast for the group's 2025 final dividend remained at HKD0.6 per share, unchanged YoY, implying a full-year dividend of HKD1.26 per share, up 1.6% YoY. The broker raised its target price for WHARF REIC from HKD20 to HKD22.5, with a rating of Underweight. AAStocks Financial News |
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