Daiwa: Downgrades Swire Pacific company A (00019.HK) target price to 71 Hong Kong dollars, rating lowered to "in line with the market"

According to the Wisdom Finance APP, Morgan Stanley released a research report stating that it has lowered the target price for A shares of Swire Pacific Limited (00019.HK) by 5.3%, from 75 Hong Kong dollars to 71 Hong Kong dollars, and the rating has been downgraded from "hold" to "synchronize with the market". Morgan Stanley has raised the company's earnings forecast per share for 2025 by 6%, for 2026 by 4%, and for 2027 by 3%. However, due to the lack of catalysts, the historical average discount rate of the company's net asset value (NAV) is only 30%. Therefore, Morgan Stanley has increased the discount from 20% to 30% and downgraded the rating due to insufficient upside potential.