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<Research>G Sachs Raises SWIRE PACIFIC A (00019.HK) TP to $102.1 as Div. Hike Surprise
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SWIRE PACIFIC A (00019.HK) announced its annual results for the year ended December 2025, Goldman Sachs released a research report saying. A slightly positive surprise was the Group's increase in its final dividend, which grew by 19% YoY to $2.5, bringing the total dividend for FY2025, including the interim dividend, to $3.8, up 13% YoY. The broker speculated that this may partly be due to its $6 billion share buyback plan ended in May 2025, with no further buybacks planned. The management was cautiously optimistic about its business outlook during the earnings briefing, expected its three core divisions to perform well amid macro uncertainties. SWIREPROPERTIES (01972.HK) has five new rental projects under construction in mainland China, which are set to launch gradually in FY2026-2028. Along with accelerating sales of its residential property portfolio, the company expected its contribution to the group's earnings to grow at an 11% CAGR during the period. Therefore, Goldman Sachs raised its target price from $96.8 to $102.1, and kept its ratings at Buy for SWIRE PACIFIC A and SWIREPROPERTIES. AASTOCKS Financial News Website: www.aastocks.com |
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