Daiwa: Target price for Yu Ling Display Real Estate Fund (00823) is 48 Hong Kong dollars. Rating as "Hold".

Zhitong Finance APP learned that Morgan Stanley released a research report stating that Adrian Cheng, the CEO and Executive Director of Link Real Estate Investment Trust (00823), will retire at the end of June 2026, ending his 16-year tenure. The bank believes that under Adrian Cheng's leadership, the company has successfully transformed from a little-known community mall operator to an internationally renowned and globally valuable real estate investment trust. The bank maintains Link as the industry's first choice, based on an attractive 6.2% yield, expectations of a US interest rate cut, the potential inclusion in the Hong Kong stock connect, and the Singapore REIT spin-off plan; target price of HK$48, rating "hold".