Bank of America Securities Raises Price Target for CHINA RES LAND to HK$43, Citing Better-Than-Expected Annual Results

Stock News03-31

Bank of America Securities has issued a research report reiterating its "Buy" rating on CHINA RES LAND (01109), following the company's slightly better-than-expected financial performance for the 2025 fiscal year. The firm expressed optimism regarding the growth in rental profits, which is supported by strong execution capabilities, a clear pipeline of shopping mall developments, and more active capital recycling through commercial real estate investment trusts. The report indicated that if the recovery in the physical property market gains momentum, CHINA RES LAND's property development business could present further upside potential. The current valuation is considered attractive, with an estimated price-to-earnings ratio of 8 times for the 2026 fiscal year, compared to over 20 times for C-REITs and approximately 16 times for Hong Kong peers. Based on an upward revision of core profit forecasts for the 2027 fiscal year and exchange rate considerations, the price target has been raised by 10% from HK$39 to HK$43.

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