Core Viewpoint - Bank of America Securities reports that Link REIT's (00823) mid-term performance for the fiscal year ending September 2026 is below expectations, leading to a downward revision of the Distribution Per Unit (DPU) forecast by 2% to 3% for the fiscal years 2026 to 2028, with the target price reduced from HKD 45 to HKD 43. However, the current valuation remains attractive, and a "Buy" rating is reiterated [1]. Group 1 - The main negative factor for Link REIT is the sharp decline in retail rental income from mainland China [1]. - The 6% decrease in renewal rents in Hong Kong was anticipated, but the widening year-on-year decline in tenant sales for the second fiscal quarter disappointed the market [1]. - It is expected that cost-cutting measures in human resources will help stabilize the DPU until the mid-point of the fiscal year 2027 [1]. Group 2 - The company is expected to adjust its business portfolio to better cope with competition from e-commerce [1].
美银证券：降领展房产基金(00823)目标价至43港元 续予“买入”评级
智通财经网·2025-11-21 03:35