UBS Raises LINK REIT TP to HKD47.2; Market Yet to Price in HKD34B Asset Recycling Opportunities
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UBS has raised its target price for LINK REITfrom HKD42 to HKD47.2, maintaining a Buy rating. The report highlights potential asset recycling and share buyback plans, with a forecasted 8% YoY decline in distribution per unit for FY2026. Despite weak near-term fundamentals, UBS sees upside potential from divestments of non-core assets, estimated at HKD34 billion. The current share price offers a dividend yield exceeding 6%, suggesting the market has not fully recognized LINK REIT's re-rating potential.
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