Kerry Properties' Swift Debt Reduction Clears Path for Select Investments -- Market Talk

Dow Jones03-24 10:31

0231 GMT - Kerry Properties' faster-than-expected reduction in gearing gives the developer greater financial flexibility to pursue new, accretive land purchases, says Citi analyst Cindy Li. After a soft 2025 profit, the bank expects profits to rebound in 2027-28, driven by SH Jinling project bookings and new rental contributions. Citi raises its target price to 25.55 Hong Kong dollars from HK$23.20, at a narrower 60% NAV discount, given the strengthening financial position. The stock remains a buy for Citi. Shares are last at HK$21.54. (venkat.pr@wsj.com)

(END) Dow Jones Newswires

March 23, 2026 22:31 ET (02:31 GMT)

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