Citigroup believes that wharf reic (00004) currently lacks attractiveness in terms of both risk and return.
According to the report released by Citigroup on the Zhitong Financial APP, all businesses of wharf reic (00004) have shown weakness. However, due to the market's expectation of potential corporate actions and the good performance of the group so far, the group's valuation is still at the industry's highest premium level. The bank believes that the group may take multiple corporate actions, but not all of them may have a positive impact on the stock price. The bank believes that currently the stock lacks attractiveness in terms of both risk and return, and maintains a "sell" rating with a target price lowered from HKD 20.8 to HKD 18.9.