Lyon: Raise SWIREPROPERTIES (01972) target price to HK$26, maintain "outperform" rating

Lyon Research Report announced that SWIRE PROPERTIES (01972) last year's performance met expectations, with a 27% increase in basic surplus compared to the previous year; The full-year dividend is up 5% to 1.15 Hong Kong dollars, in line with the bank's expectations and the company's dividend growth target. The bank cited SWIRE PROPERTIES management as saying that the company's 100 billion Hong Kong dollar investment plan is entering a period of harvest, and business development should help the company achieve sustained profit growth in the coming years, supporting its sustainable dividend growth. The bank stated that due to better than expected property sales by SWIRE PROPERTIES, the company's earnings forecasts for the 2026 and 2027 fiscal years have been raised by 11.2% and 0.4% respectively, and the target price has been raised from 22.2 Hong Kong dollars to 26 Hong Kong dollars, maintaining a "outperform" rating.