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<Research>JPM Upgrades WHARF REIC to Overweight, Lifts LINK REIT's TP to HKD49
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Hong Kong's retail sales value in May turned positive YoY for the first time since February 2024, signaling a rebound from the bottom, according to JPMorgan's research report. Besides, non-essential consumer goods also recorded positive growth for the first time since January 2024. JPMorgan doesn't expect a huge recovery in the retail industry but a steady YoY growth rate in 2H25 given signs of stabilization. The broker upgraded WHARF REIC (01997.HK) from Underweight to Overweight with a target price of HKD27.5. It also lifted LINK REIT (00823.HK)'s target price from HKD43 to HKD49, with an Overweight rating remaining in place. AAStocks Financial News |
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