Goldman Sachs upgraded Wharf Real Estate Investment to Buy from Neutral with a price target of HK$33.90, down from HK$45. After its underperformance over the last two to three years, the stock is no longer trading at a premium and the firm sees Wharf REIC as a more direct beneficiary of further recovery in inbound tourists on visa relaxation and interest rate cuts compared to other landlords, the analyst tells investors.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>