[ET Net News Agency, 10 January 2020] J.P. Morgan cut its target price for Link REIT
(00823) to HK$98 from HK$99.9 and maintained its "overweight" rating.
The research house views Link's acquisition of a Sydney project as moderately positive
to the stock price. Despite the slowdown in the retail market, Link's defensive tenants
are still delivering low-single-digit retail sales growth. Link's commitment to share
buybacks will likely continue to support the valuation.
JPM expects DPU growth to be sustained at 7-8% for the next two years mainly from new
property contributions. (KL)