Morgan Stanley: CR Land's strategic transformation is expected to support profit and dividend growth, listed as a top investment target.

Morgan Stanley stated that China Resources Land is transitioning from an "asset owner" to an "asset manager," and its strategic direction is correct. Its strong recurring profits are expected to support higher and more sustainable dividends, even if real estate sales do not recover, which is enough to support a revaluation. The company has been moved to a "preferred" target, with the target price raised from HK$33.60 to HK$38.80.