[ET Net News Agency, 17 February 2021] AMTD Research initiated coverage on Yuexiu Real
Estate Investment Trust (00405) with a "buy" rating and a target price of HK$4.99.
The research house believes the market has overlooked Yuexiu REIT's double fundamental
recovery through interest savings on its FX debt, as well as the China macro recovery
since 2H 2020.
AMTD believes this presents an attractive opportunity to invest in a portfolio of prime
assets in the Greater Bay Area, which includes the iconic Guangzhou IFC.
It noted that Yuexiu REIT's dividend is still offering an attractive 2021 7.5% yield.
AMTD believes the upcoming results announcement in March will be the key catalyst to drive
the share price higher, as investors look ahead into the 2021 outlook. (KL)