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<Research>UBS Lifts CHAMPION REIT (02778.HK) TP to $2.3, Keeps Neutral Rating
Recommend 4 Positive 7 Negative 2 |
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UBS released a research report predicting that CHAMPION REIT (02778.HK)'s 2025 DPU will drop by 9% YoY, mainly due to the continued reduction in rental reversion at Three Garden Road and Langham Office and its retail mall. The current share price corresponds to a projected 2026 dividend yield of 5.7%, which is in line with historical average. Meanwhile, the projected 2026 dividend yield for 2026 shows a spread of only 1.7% over the US 10-year Treasury, returning to pre-2019 level. Therefore, the broker believed that the market has already accounted for the bottoming of spot rents in Central office and the expected rebound in leasing activities. UBS kept rating at Neutral, and lifted its target price from $1.74 to $2.3. AASTOCKS Financial News Website: www.aastocks.com |
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