[ET Net News Agency, 11 December 2019] Daiwa said they see Swire Properties (SP) as a
play on the theme of emergence of global plays in the HK equity market. They believe the
33% plunge in its share price in June-November was driven more by fund-flow issues related
to capital exiting the HK market rather than fundamental issues about the company. This
creates an attractive buying opportunity for the share.
While the research house expects SP's retail malls in HK to be affected by weakness in
the HK retail market, SP's malls in China have been doing very well, with gross rental
income having already surpassed that from malls in HK since 2016.
They reaffirm the "buy" rating and 12-month TP of HK$40.30, based on a 30% discount
applied to their end-2019E NAV of HK$57.60. (RC)
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01972 SWIREPROPERTIES
Nominal 
15.120 0.000 (0.000%) Research Report
11/12/2019 11:22
{I-bank focus}Daiwa reaffirms "buy" on Swire PPT (01972)
| Remark: | Real time quote last updated: 19/04/2024 08:27 |
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