Goldman Sachs issued a research report lowering LINK REIT's (00823) target price slightly from HK$53.1 to HK$51.1, while maintaining a "Buy" rating. The firm also reduced its earnings per share forecasts for fiscal years 2026 to 2028 by 3% to 6%, and now expects rental income to decline by 2% in fiscal year 2026, compared to its previous expectation of flat performance. The firm noted that main risks include Hong Kong retail business performance falling short of expectations, leading to rental adjustments below forecasts, as well as potential valuation discounts due to the increasingly complex structure of the asset portfolio.