Lyon: Upgraded Exhibition Real Estate Fund (00823.HK) target price to 51 Hong Kong dollars, maintaining an "outperform" rating.

Zhixin Finance APP learned that Lyon released a research report stating that Link Real Estate Investment Fund (00823.HK) performed below expectations in the first half of the 2026 fiscal year. The company has taken measures to address this, and the bank believes that the incremental negative impact will gradually fade starting from the 2027 fiscal year. Due to poor performance in Hong Kong and mainland shopping malls, the bank has lowered Link's profit forecasts for the 2026, 2027, and 2028 fiscal years by 4.5%, 1.6%, and 0.3% respectively. Due to a decrease in US treasury yields, the target price has been raised from 50.5 Hong Kong dollars to 51 Hong Kong dollars, maintaining an outperform rating.