Morgan Stanley: Reiterates "Overweight" rating on LINK REIT (00823) with a target price of HK$41.

Morgan Stanley issued a research report stating that it has upgraded its rating on LINK REIT (00823) to "buy". The company may actively engage in high-quality and reasonably priced mergers and acquisitions in the future, and may also dispose of current assets. These factors could potentially act as driving forces for potential upside, with a target price of HK$41. According to the report, as of the end of September, the company's mid-term distributable income was 3.5 billion yuan, a year-on-year increase of 4%, which was 2 percentage points higher than the bank's expectations. The estimated annualized return rate per unit of fund is 7.4%. In the first half of the fiscal year, the overall rental growth of retail properties in Hong Kong increased by 0.7%, and the occupancy rate remained at a high level of 97.8%.