Lyon: Maintaining the target price of 48.5 Hong Kong dollars for Wharf Real Estate Investment Company and the "outperform the market" rating, it is still one of the top recommended stocks.

Lyon released a report indicating that Link Real Estate Investment Trust announced the sale of a 50% stake in the trust structure of Market Street 100 in Sydney for 225.9 million Australian dollars to an entity under Aware Super. The transaction price is equivalent to 50% of the independent assessed value of the property as of the end of May 2026, which is 451.8 million Australian dollars. Although the execution time was earlier than expected, it aligns with the established strategy of management to divest 5% to 10% of non-core assets in the portfolio. The bank pointed out that Link currently plans to use the net proceeds for unit buybacks and reinvestment in core retail property portfolios in the Asia-Pacific region. This buyback will complement the ongoing buyback plan supported by the sale of Swing By @ Thomson Plaza, and it is believed that it will further support the unit price of the fund. Lyon maintains a target price of HK$48.5 for Link and a "outperform the market" rating, and indicates that the stock remains one of its top picks.