UBS Raises SWIRE PACIFIC A Target Price to HK$95, Maintains "Neutral" Rating

Stock News08-07

UBS has released a research report stating that SWIRE PACIFIC A (00019) reported an underlying recurring profit of HK$7 billion in the first half of the year, representing a 48% year-on-year increase and exceeding the bank's expectations by 9%. The interim dividend rose 15% year-on-year to HK$1.5 per share, with a payout ratio of 29%.

The bank has raised its earnings forecasts for SWIRE PACIFIC A for the years 2026 to 2028 by 11% to 13%, while maintaining a "Neutral" rating. The target price has been increased by 9% from HK$87 to HK$95.

UBS noted that SWIRE PACIFIC A's net debt and net debt ratio have improved compared to six months ago, primarily driven by strong cash flows from its aviation and beverage businesses. This performance is believed to be the reason behind the company's commitment to maintaining a 50% payout ratio.

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