星展：升九龙仓置业评级至“买入” 目标价上调至29港元

Core Viewpoint - The report from DBS indicates that Kowloon Development (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 Kowloon Development [1] - A sustainable recovery in the retail market may lead to a higher stock valuation for Kowloon Development [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 Kowloon Development has been upgraded from "Hold" to "Buy" [1] - The target price has been raised from HKD 27.7 to HKD 29 [1]