大行评级｜美银：上调嘉里建设目标价至24.7港元 重申“买入”评级

Core Viewpoint - Bank of America Securities reports that Kerry Properties has recently completed the redevelopment of the Cheung Sha Wan Kerry Hong Kee warehouse into a mixed-use project, estimating a gross margin exceeding 20% [1] Group 1: Financial Performance - The sales revenue from the first and second phases of Shanghai Kerry Jinling Huating has surpassed 19 billion yuan, with expectations to achieve a net debt ratio below 30% by 2026, down from 38.4% at the end of the first half of this year [1] Group 2: Investment Rating - The company maintains a dividend yield consistently above the industry average of 6.5%, reaffirming a "Buy" rating and raising the target price from 23.2 HKD to 24.7 HKD [1]