SM Prime's Earnings Could Gain from Mall Business, Holiday Spending -- Market Talk

Dow Jones11-21

0252 GMT - SM Prime's 4Q 2024 and 2025 earnings could be driven by its mall business, says Maybank Securities analyst Raffy Mendoza. The Philippines-listed property developer's nine-month earnings were in line with expectations and driven by factors including sustained growth at its malls, Mendoza says in a research report. The company's 4Q earnings are expected to be supported by year-end holiday spending. The management is also targeting to open new four malls in 2025, expanding its gross floor area in the mall portfolio, Mendoza adds. Maybank maintains the stock's target price at PHP42.00 with an unchanged buy rating. Shares are last at PHP28.65.(amanda.lee@wsj.com)

(END) Dow Jones Newswires

November 20, 2024 21:52 ET (02:52 GMT)

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The Philippines-listed property developer's nine-month earnings ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"SM","symbol_name":"SM Energy","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2485485283","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485485283","pubTimestamp":1732157520,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0252 GMT - SM Prime's 4Q 2024 and 2025 earnings could be driven by its mall business, says Maybank Securities analyst Raffy Mendoza. 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