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<Research>Citi: HK Homebuilders' Sector Fundamentals Strengthen; Top Picks SHK PPT/ CK ASSET/ SWIREPROPERTIES
Recommend 30 Positive 52 Negative 21 |
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Homebuilders' FY2025 results were benefited from savings in interest costs, Citi Research issued a research report saying. The broker also found the FY2026 guidance from listed companies to be highly encouraging, due to the anticipated increase in property sales deposit returns driven by years of rising home prices, core offices riding on leasing momentum on smaller rent reductions, and a positive return of high-end retail in mainland China. Citi Research believed that the dividends of SHK PPT (00016.HK) and Hongkong Land beat expectations, signaling an upside cycle, bolstered by rapid profit margin hike from property development and yields from investment properties. However, the industry's fundamentals strengthened this year, and it is expected that supplementary investments for medium to long-term growth will accelerate. Citi Research selected stocks with growing EPS and shareholder return rates. Top picks are SHK PPT, CK ASSET (01113.HK) and SWIREPROPERTIES (01972.HK). The table below shows Citi Research's latest ratings and target prices for Hong Kong homebuilders: Stock│ Rating│ TP WHARF HOLDINGS (00004.HK)│Sell│$21.15 HENDERSON LAND (00012.HK)│Buy│$35.32 HYSAN DEV (00014.HK)│Buy│$24.3 SHK PPT (00016.HK)│Buy│$168 NEW WORLD DEV (00017.HK)│Neutral│$11.32 MTR CORPORATION (00066.HK)│Sell│$30 SINO LAND (00083.HK)│Buy│$14.2 HANG LUNG PPT (00101.HK)│Buy│$11.2 KERRY PPT (00683.HK) | Buy | $23.2 FORTUNE REIT (00778.HK) | Buy | $6 LINK REIT (00823.HK) | Neutral | $36.8 CK ASSET (01113.HK) | Buy | $54.8 SWIREPROPERTIES (01972.HK) | Buy | $28.8 WHARF REIC (01997.HK) | Buy | $31.6 CHAMPION REIT (02778.HK) | Sell | $2.03 AASTOCKS Financial News Website: www.aastocks.com |
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