[ET Net News Agency, 16 January 2020] Daiwa Research raised its target price for Swire
Properties (SP)(01972) to HK$40.9 from HK$40.3 and maintained its "buy" rating.
The research house visited SP's HKRI Taikoo Hui and other shopping malls in Shanghai in
December 2019. It noted that SP has been doing well in China, an aspect that investors
should not overlook.
After an analysis of SP's various major businesses, Daiwa concluded that its major weak
spots are malls and hotels in HK; however, it said their relative importance to SP has
declined considerably from before (now accounting for less than 15% of its net profit),
given the sustained growth in SP's office rent and a take-off in its China rent.
More importantly, Daiwa believes the top malls in China are now well-positioned to
benefit from a secular trend of a sustained rise in the middle class and luxury spending
in China's major cities. (KL)
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01972 SWIREPROPERTIES
Nominal 
15.980 +0.180 (+1.139%) Others
16/01/2020 15:22
{I-bank focus}Daiwa ups Swire Properties (01972) to HK$40.9
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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