[ET Net News Agency, 2 June 2020] J.P. Morgan lowered its target price for Link REIT
(00823) to HK$74.2 from HK$98 and maintained its "overweight" rating.
The research house said Link's FY2020 final results defied market expectation that it
will witness substantial downside to its operations. Link's operations are likely to have
bottomed at end-1Q.
If the entire Hong Kong retail market is going down, JPM believes Link should still be
an outperformer. It said Link is currently trading at a projected yield of 4.9% which is
at 429bp over the 10-year US treasuries when its normal trading range was at 170-200bp
since listing. (KL)