HMC Capital Should Drop Medium-Term Assets Under Management Target -- Market Talk

Dow Jones
02/24

0023 GMT - HMC Capital's bull at UBS doesn't see the property and infrastructure investor hitting its medium-term target for assets under management. HMC Capital wants A$50 billion of AUM. Analyst Solomon Zhang thinks A$27 billion by FY 2030 is more likely, driven by real estate and private credit. "We ascribe minimal growth to Digital Infrastructure and Energy Transition beyond what is secured today, and view these verticals as upside," UBS says. It would like HMC to drop the medium-term AUM goal, given it's not wholly within the company's control. UBS lowers its price target on HMC Capital by 39% to A$4.00/share. HMC falls 4.2% to A$2.835 following its 1H result today. The stock is down some 71% over the past 12 months. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

February 23, 2026 19:23 ET (00:23 GMT)

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