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Wharf Real Estate Investment upgraded to Overweight from Underweight at JPMorgan

JPMorgan upgraded Wharf Real Estate Investment (WRFRF) to Overweight from Underweight with a price target of HK$27.50, up from HK$17. Hong Kong retail sales turned positive in May for the first time since February 2024, notes the analyst, who is “not arguing for a big recovery,” but sees signs of stabilization and “tactically” upgrades Wharf REIC.

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