Morgan Stanley: Expects Swire Properties (01972.HK) share price to outperform the market over the next 60 days; rates "Overweight" with a target price of HK$28

Zhitong Finance APP has learned that Morgan Stanley issued a research report stating that it has given Swire Properties (01972.HK) an "Overweight" rating with a target price of HK$28, and expects its share price to outperform the broader market over the next 60 days. The bank believes that Swire Properties' current valuation is attractive, that its operating performance in Hong Kong and China in the third quarter is expected to be strong, and that Taikoo Place's recent redevelopment projects also have a value-accretive effect. Morgan Stanley said that, according to JLL data, spot office rents in Hong Kong's Central district rose 9.4% in the first nine months of this year.