Lyon:A114 Lyon: The target price for Swire Properties A has been slightly raised to HKD 114, maintaining an "Outperform" rating.

Citi published a research report indicating that Swire's recurring profit in the first half of the year increased by 48% year-on-year, which is equivalent to 57% and 62% of the bank and market's full-year forecasts, respectively. During the period, apart from the contribution from Cathay Pacific, the operating performance of Swire Properties' China business, Hong Kong Aircraft Engineering Company, and Swire Coca-Cola all saw significant improvements. Citi raised its forecasts for Swire's recurring profits for 2026 and 2027 by 4% and 2%, respectively, to HKD 12.7 billion and HKD 14.0 billion, while also increasing the annual regular dividend forecast to HKD 4.2 and HKD 4.4 per share. The bank maintained Swire As Outperform rating, with the target price slightly increased from HKD 113 to HKD 114.