Bank of America Securities Raises Target Price for LINK REIT to HK$46, Citing Improved Recovery Visibility

Stock News05-29

Bank of America Securities issued a research report stating that LINK REIT's (00823) performance for the fiscal year ending March 2026 met expectations. The firm reiterated its "Buy" rating and raised the target price from HK$44 to HK$46, reflecting an upward revision in the medium-term distribution per unit forecast. It is encouraging that LINK REIT's Hong Kong retail spot rents and tenant sales have stabilized, supporting a resumption of rental growth starting from fiscal year 2028. The report noted that, in addition to the recent proceeds from the sale of a Singapore shopping mall being used for a HK$1.5 billion buyback, management also indicated an active pipeline of asset disposals. Non-core assets account for 5% to 10% of the portfolio, which could support further buybacks. Management's confidence in maintaining stable net income and distributions per unit for the fiscal year 2027 is also better than market expectations.

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