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<Research> BofAS Raises TP for CHINA RESOURCES MIXC LIFESTYLE (01209.HK) to HKD51, Adjusts Earnings Forecast
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BofAS published a research report indicating that CHINA RESOURCES MIXC LIFESTYLE (01209.HK) achieved a core earnings growth of 13.7% last year, slightly exceeding both the firm's and the market's expectations. During the earnings conference, management announced a five-year operational target, including an annual compound growth rate of 10% for both commercial management and property management businesses. The target is to double the income and earnings of the membership business from a smaller base. If these targets are met, it implies an overall annual compound earnings growth rate of approximately 10% over the next five years, corresponding to a forecasted P/E ratio of 20x for 2026. The firm remains optimistic about CHINA RESOURCES MIXC LIFESTYLE, as its proactive tenant portfolio management drives superior tenant sales growth compared to peers. They also find the combination of a dividend yield above 5% and double-digit earnings growth particularly attractive. The firm has adjusted its earnings forecasts for 2026 and 2027 upwards by 2% to 3%, and raised the target price from HKD50 to HKD51, reiterating a "Buy" rating. (ss/j) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
URL: www.aastocks.com |
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