HS-LINK@EC2611A

CLSA Maintains HK Real Estate “In-Line with Market” Rating, Recommends Buying Sun Hung Kai and Link REIT

BOC International Maintains Buy Rating on Link REIT, FY2026 Performance Declines YoY

JPMorgan Report: HK April Retail Sales Growth Slows, Maintains Neutral Rating on Cheung Kong & Link REIT

Morgan Stanley issues report citing HK retail recovery, upgrades Link REIT to Overweight

CICC Maintains Outperform Rating on Link REIT, Target Price HKD 43

Five Brokerages Consolidate Link REIT Ratings and Target Prices: Focus on Asset Sales and Buyback Plans

Citigroup lowers Link REIT target price to 48.5 HKD, reiterates 'outperform' rating

LINK REIT released FY2026 Q3 earnings on May 28 (BJT), actual revenue HKD 3.532 B, actual EPS HKD -1.115

LINK REIT released FY2026 9 Months Earnings on May 28 (BJT), actual revenue HKD 10.59 B, actual EPS HKD -1.7396

Link REIT Announces Full Year Results for the Year Ended March 31, 2026

Link REIT Announces Full-Year Results: Revenue and Distribution Drop Amid Negative Rental Adjustments, Plans to Sell Non-Core Assets to Stabilize Payouts

Link REIT Annual Results: HK Retail Property Renewal Rents Fall 8.2%

Link REIT Revives Buyback Plan Using Proceeds from SwingBy@Thomson Plaza Sale

Citi Report: Link REIT Annual Distribution Down 6.9%, Neutral Rating with Target Price of HKD 36.8

Link REIT Reports 2026 Fiscal Year Performance Decline, Plans to Divest Non-Core Assets

Link REIT announces completion of Tai Tung Plaza asset enhancement and launches community events

LINK REIT released FY2026 Q4 earnings on May 28 Pre-Market (BJT), actual revenue HKD 3.532 B, actual EPS HKD -1.115

LINK REIT released FY2026 Annual Earnings on May 28 Pre-Market (BJT), actual revenue HKD 14.13 B (forecast HKD 13.97 B), actual EPS HKD -2.8575 (forecast HKD 2.508)

LINK REIT to Release FY2026 Earnings on May 28 Pre-Market (BJT), Forecast Revenue HKD 13.97 B, EPS HKD 2.508

SYNERTONE

SOFTMEDX

WING FUNG GROUP

TAILAM TECHCON

HIPINE

HAITIAN ANTENNA

BIOSTAR PHARM-B

MICROWARE

LIFE CONCEPTS

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Citi argues that concerns over HK government cooling measures are premature, as current price levels remain below historical thresholds for intervention. The bank favors a 'slow bull' market for sustainable recovery and recommends buying SHK PPT, CK Asset, Swire Properties, and Link REIT, citing strong fundamentals and attractive valuations despite near-term volatility.

AASTOCKS News

CK ASSET

LINK REIT

SHK PPT

SWIREPROPERTIES

Citigroup

CITIGROUP INC 6.250 NON CUM SER II PFD WI

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Citi: Concerns Over HK Govt Cooling Measures Premature; "Slow Bull" More Constructive; Recommends SHK PPT , CK ASSET , SWIREPROPERTIES  and LINK REIT

UOB Kay Hian views the recent pullback in Hong Kong property stocks as a buying opportunity, maintaining an 'Equalweight' sector rating. While new outbound investment regulations may curb mainland Chinese demand, they won't affect professionals living in HK. The broker raised its 2026 retail sales growth forecast to 5% and expects residential prices to rise 7%. Top picks are SHK PPT and LINK REIT, both rated 'Buy'.

UOB Kay Hian

UOB Kay Hian: Recent Pullback in Property Stocks Creates Buying Opportunities; Top Picks SHK PPT  and LINK REIT

BOCOM International reports LINK REIT's FY2026 results were in line with expectations, despite a 2% revenue decline due to negative rental reversion. Distribution per unit beat forecasts. The broker highlights mid-to-long-term catalysts including HKD10-20bn non-core asset disposals for buybacks and potential Stock Connect inclusion. Maintaining a Buy rating with a HKD45.7 target price, BOCOM expects FY2027 distributable income to remain stable.

BOCOM INTL

BOCOM International: LINK REIT  Results In Line; Buybacks a Mid-to-Long Term Catalyst

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JPMorgan reported Hong Kong's April retail sales grew 9% YoY, a moderation from March's 13%. Despite stable retail performance, rental reversion for WHARF REIC and LINK REIT remains weak. JPM maintained Neutral ratings on both but highlighted LINK REIT's upside potential due to its >6% dividend yield and capital recycling opportunities.

WHARF REIC

JPMorgan Chase

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JPM: HK Apr Retail Sales Growth Moderates; Reiterates Neutral on LINK REIT , WHARF REIC

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BofAS cut target prices for SHK PPT, Wharf Holdings, and Hang Lung Properties due to policy uncertainty suppressing high-end residential demand in Hong Kong. The broker expects home price growth to moderate, maintaining a 10% full-year forecast but ruling out aggressive increases. While lowering TP on these three stocks, BofAS maintained Buy ratings on LINK REIT and Swire Properties, favoring defensive plays with attractive valuations.

Wharf Holdings

HANG LUNG PPT

WHARF HOLDINGS

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MTR CORPORATION

BofAS Cuts TP on SHK PPT  and WHARF HOLDINGS on Policy Uncertainty Weighing on High-end Residential Demand

Citi upgraded its outlook on Hong Kong's non-essential consumer retail sector, citing stabilizing market rents. The bank identified SHK PPT, CK Asset, Swire Properties, and Link REIT as top picks in local property stocks. This recommendation is supported by solid April retail sales growth of 8.6% YoY, stable supermarket performance, and strong online retail momentum. Citi also noted that Link REIT was upgraded to Buy due to rent stabilization and a new capital management strategy.

Citi: Top Picks in Local Property Stocks SHK PPT , CK ASSET , SWIREPROPERTIES  and LINK REIT

M Stanley expects Hong Kong's May retail sales to maintain high single-digit YoY growth, citing healthy economic growth and tourism recovery. While April sales rose 8.6%, below market expectations, they aligned with forecasts. Additionally, LINK REITshows stabilizing rental trends in its Hong Kong portfolio despite conservative guidance. Consequently, M Stanley assigned an 'Overweight' rating to LINK REIT.

Morgan Stanley

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M Stanley Expects Hong Kong May Retail Sales Data to Maintain High Single-Digit YoY Growth; LINK REIT  Rental Trend Stable

CICC reports LINK REIT's FY2026 results were in line with expectations, despite YoY declines in revenue, net property income, and DPU. The broker highlights that asset recycling, specifically the SGD250M sale of Thomson Plaza interest for unit buybacks, and cost control measures supporting HKD200M annual savings, will aid future distributions. CICC maintains an Outperform rating with a HKD43 target price, forecasting stable DPU growth.

CICC

CICC: LINK REIT  Results In Line; Asset Recycling and Cost Control Support Distributions

Hong Kong home prices reached a 30-month high in April, climbing for the 11th consecutive month with a 10.51% year-on-year increase. Rents also hit a record, rising 4.9% from last year. Analysts expect residential property prices to increase by 8% to 10% this year, with Morgan Stanley raising its forecast to 12%. However, potential interest rate hikes may slow growth later in the year, while demand from mainland buyers and stable liquidity continue to support the market.

vnexpress

CBRE

MIDLAND HOLDING

Moodys

Jones Lang Lasalle

Hong Kong home prices jump to 30-month high

Citi has upgraded LINK REITfrom Neutral to Buy, raising the target price from HKD36.8 to HKD44.8. The report highlights improving retail tenant sales in Hong Kong, stabilizing cash rents, and the completion of asset disposals for share buybacks. A new CEO is expected to be appointed in 1Q/2QFY27E.

Citi Upgrades LINK REITto Buy, Raises TP to HKD44.8

HS-LINK@EC2611A(29187.HK)

Citi: Concerns Over HK Govt Cooling Measures Premature; "Slow Bull" More Constructive; Recommends SHK PPT , CK ASSET , SWIREPROPERTIES and LINK REIT

UOB Kay Hian: Recent Pullback in Property Stocks Creates Buying Opportunities; Top Picks SHK PPT and LINK REIT

BOCOM International: LINK REIT Results In Line; Buybacks a Mid-to-Long Term Catalyst

JPM: HK Apr Retail Sales Growth Moderates; Reiterates Neutral on LINK REIT , WHARF REIC

BofAS Cuts TP on SHK PPT and WHARF HOLDINGS on Policy Uncertainty Weighing on High-end Residential Demand

Citi: Top Picks in Local Property Stocks SHK PPT , CK ASSET , SWIREPROPERTIES and LINK REIT

M Stanley Expects Hong Kong May Retail Sales Data to Maintain High Single-Digit YoY Growth; LINK REIT Rental Trend Stable

CICC: LINK REIT Results In Line; Asset Recycling and Cost Control Support Distributions

Hong Kong home prices jump to 30-month high

Citi Upgrades LINK REITto Buy, Raises TP to HKD44.8