Goldman Sachs released a research report stating that, considering the latest interest rate expectations, it slightly raised the earnings forecast for Wharf Holdings (00019) for the fiscal years 2024 to 2026 by less than 1%, and held a positive outlook on the entire Wharf Group. The group has the ability to take advantage of the opportunities in Hong Kong and the mainland through its operations in retail and aviation, and is more willing than its peers to reward shareholders through buybacks and special dividends. The target price is HKD 78 and is rated 'buy'.
Regarding its peers, considering the latest housing and rent prices, slight adjustments have been made to the earnings forecasts for Hang Lung Properties (00101) for the fiscal years 2024 to 2026 by less than 1%. It is believed that Hang Lung Properties is one of the few real estate companies with a good track record in operating luxury shopping centers in mainland China. In the medium term, the company is more capable of benefiting from the long-term growth of the luxury goods consumption of China's middle class. The target price is HKD 13.6 and is rated 'buy'. In addition, slight adjustments have been made to Hysan Development's (00014) earnings forecasts for the fiscal years 2024 to 2026 by less than 1%, and it is rated 'neutral' with a target price of HKD 15.1.