CICC: Raises Link Real Estate Investment Trust (00823) target price to HK$49.8 and maintains "Buy" rating.

According to the APP, Citi Research released a research report stating that it has slightly raised the target price of Link Real Estate Investment Trust (00823) to 49.8 Hong Kong dollars, maintaining a "buy" rating. The bank believes that the potential interest rate cut in September 2025 and the potential inclusion of the Shanghai-Hong Kong Stock Connect will be key catalysts in the next 12 months, which should have a greater impact than the expected changes in rental adjustments. Due to the lowering of interest rates and discount rates, the target price was slightly raised. Citi Research believes that a lowering of interest rates can partially alleviate the pressure on rental income. Dividend per unit forecast for the fiscal years 2026 and 2027 has been slightly adjusted downwards by approximately 1.5% and 2.9%, respectively, introducing forecasts for fiscal year 2028.