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00823 LINK REIT
RTNominal down33.650 -0.650 (-1.895%)
Others

28/07/2020 18:01

{I-bank focus}HSBC trims Link REIT (00823) to HK$82

[ET Net News Agency, 28 July 2020] HSBC Global Research cut its target price for Link
REIT (00823) to HK$82 from HK$87.1 and maintained its "buy" rating.
The research house noted that Link has agreed to acquire a Grade-A office tower in
London for GBP380m. HSBC expects Link to continue to acquire quality commercial projects
worldwide.
The HK government tightened its social distancing measures due to a recent resurgence of
local cases. While these measures could impact retail business for some of its tenants,
many of them could overcome the current challenging situation given government supports.
HSBC revised its DPU (distribution per unit) mainly to reflect lower rental and
occupancy assumptions for the Hong Kong retail portfolio, offsetting the contribution from
newly acquired office project. (KL)

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