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<Research>HSBC Global Research Upgrades WHARF HOLDINGS to Hold; Stock Price Has Reflected Challenges Ahead
Recommend 10 Positive 5 Negative 8 |
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According to a recent HSBC Global Research report, WHARF HOLDINGS (00004.HK)'s stock price has retreated by around 33% since March, significantly underperforming the HSI by 39 ppts. The broker believes that the market has started to reflect concerns over the company's earnings growth outlook as 2024-2025 consensus earnings have dropped 19-21% over the past six months, which is close to the broker's cautious earnings projections. While there are still concerns about WHARF HOLDINGS's business fundamentals, the broker still upgraded the investment rating on the company to Hold on the basis that the valuation is no longer expensive and the share price has broadly reflected the broker's concerns about its growth. AAStocks Financial News |
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