Lyon: Credit Suisse raises the target price of Swire Properties A (00019.HK) to HKD 114, maintaining an "Outperform" rating.

Zhitong Caijing APP learned that Crdit Lyonnais has released a research report stating that Swire Properties A (00019.HK) reported a 48% year-on-year increase in recurring profit for the first half of the year, equivalent to 57% and 62% of the bank's and the market's full-year forecasts, respectively. During the period, Swire Properties' business in China, Hong Kong Aircraft Engineering Company, and Swire Coca-Cola all showed significant improvement in operational performance, aside from contributions from Cathay Pacific (00293.HK). Crdit Lyonnais raised its forecasts for Swire's recurring profits for 2026 and 2027 by 4% and 2%, respectively, to HKD 12.7 billion and HKD 14 billion, while also raising its annual dividend forecasts to HKD 4.2 and HKD 4.4 per share. The bank maintains a "Outperform" rating on Swire A, with a slight increase in the target price from HKD 113 to HKD 114.