星展：升九龙仓置业(01997)评级至“买入” 目标价上调至29港元

Core Viewpoint - The report from DBS indicates that Wharf Real Estate Investment Company (01997) is heavily reliant on the recovery of the retail market, which is expected to improve rental income and returns [1] Group 1: Rental Income and Returns - The outlook for operating rental income and return growth is improving, which is anticipated to drive rental yield growth for Wharf Real Estate [1] - A sustainable recovery in the retail market may lead to a higher stock valuation for Wharf Real Estate [1] Group 2: Debt and Interest Costs - The company's debt is primarily at floating rates, suggesting that a potential decline in HIBOR could reduce interest costs [1] Group 3: Rating and Target Price - The rating for Wharf Real Estate has been upgraded from "Hold" to "Buy" [1] - The target price has been raised from HKD 27.7 to HKD 29 [1]