JP Morgan: Lowers TS LINES (02510) target price to HK$7.4, maintains "neutral" rating.

J.P. Morgan released a research report stating that TS LINES (02510) has officially updated its dividend distribution policy to 30% to 50%. The bank expects the company's future yield to reach 8.1% to 8.3% over the next two years. In addition, the bank has raised its earnings forecast for TS LINES for the 2025 to 2026 fiscal years by about 22% and introduced forecasts for the 2027 fiscal year, but slightly lowered its valuation basis. The bank has adjusted its target market-price-to-book ratio for next year from 0.8 times to 0.7 times. J.P. Morgan has lowered the target price for TS LINES from HK$7.6 to HK$7.4, maintaining a "buy" rating.