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<Research>G Sachs Trims LINK REIT's TP to HKD48.4; Rental Trends Expected to Improve in 1 Yr
Recommend 8 Positive 8 Negative 9 |
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LINK REIT (00823.HK) recorded a net loss of HKD1.6 billion in the mid-term of FY26, which included a HKD5 billion property revaluation loss, according to a report from Goldman Sachs. Excluding this factor, LINK REIT's underlying profit would have dropped by 7.1% YoY to HKD3.3 billion, accounting for 48% of Goldman Sachs' full-year forecast, mainly due to the YoY decline in rental income from Hong Kong and Mainland leasing portfolios and significant adjustments in renewal rents, coupled with one-time severance costs and other related expenses from cost structure optimization plans. Expecting LINK REIT's rental trends to improve within 12 months, Goldman Sachs trimmed its target price for LINK REIT from HKD51.1 to HKD48.4, with a Buy rating remaining in place. AAStocks Financial News |
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