Swire Pacific price target raised to HK$65 from HK$60 at HSBC

HSBC raised the firm’s price target on Swire Pacific to HK$65 from HK$60 on lower conglomerate discount, while keeping a Hold rating on the shares. The firm notes interim results met expectations, driven by a strong turnaround at Cathay Pacific; properties were steady. Beverage unit performance in the U.S. was strong, but divestment is pending, HSBC adds.