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<Research>BofAS Elevates CHINA RES LAND (01109.HK) TP to $43 as 2025 Results Slightly Beat
Recommend 3 Positive 4 Negative 2 |
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BofA Securities issued a research report reiterating rating at Buy as CHINA RES LAND (01109.HK)'s FY2025 results slightly beat expectations. The broker was optimistic about its rental profit growth, benefiting from strong execution, a clear pipeline of mall developments, and more aggressive capital recycling through C-REITs. If the recovery momentum in the physical real estate market strengthens, CHINA RES LAND's property development business could offer upside room, the report noted. The current valuation is considered attractive, with a projected PE ratio of 8x for FY2026, compared to over 20x for C-REITs and about 16x for its Hong Kong peers. Based on higher core earnings estimation for FY2027 and exchange rate factors, BofA Securities elevated its target price by 10% from $39 to $43. AASTOCKS Financial News Website: www.aastocks.com |
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