Bank of America Securities: raises China Resources Mixc (01209) target price to HK$44, reiterates "buy" rating.

Bank of America Securities has released a research report stating that it has raised the target price of CHINA RES MIXC (01209) by 10% to 44 Hong Kong dollars and continues to view it as the preferred choice in the property management industry, reiterating a "buy" rating. The bank believes that CHINA RES MIXC's stock price should continue to outperform the retail industry in China. Despite a strong performance in the first half of the year, Bank of America Securities believes that there are still catalysts for the stock in the future, including the potential for further improvement in same-store sales in the second half of the year due to a low comparison base. The company's expansion into new business models by 2025, such as Outlet shopping malls and airport commercial activities, will also expand its market and long-term growth potential. In addition, following the recent acquisition of a member points system infrastructure and license, CHINA RES MIXC is ready to accelerate the monetization of its membership program by selling points to brands and merchants outside of China Resources Wanjia Mall.