0345 GMT - Wharf Real Estate Investment Co. is likely to ride the Hong Kong retail market's recovery, says its new bull at DBS Group Research. Increasing inbound tourism has bolstered recovery in sectors such as jewelry and watches, while the buoyant stock market is likely to boost wealth and stimulate local discretionary spending, DBS analysts say in a note. A potentially lower Hong Kong benchmark interest rate could translate into cost savings for the real-estate investment company, given that the majority of its debt is floating rate, they add. DBS upgrades the stock to buy from hold and lifts the target price to HK$29.00 from HK$27.70, citing a higher valuation due to the retail market's improvement. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
October 16, 2025 23:45 ET (03:45 GMT)
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