2024-03-31 11:27:31 ET
Summary
- Wharf REIC is expected to achieve solid top line expansion this year, thanks to resilient luxury retail demand and an increase in Mainland Chinese visitors for Hong Kong.
- The company's FY 2024 earnings are likely to be boosted by a decrease in interest costs, driven by lower benchmark interest rates and deleveraging.
- I revise my rating for Wharf REIC from a Hold to a Buy, as I think that the company's favorable 2024 prospects aren't fully priced into the stock's valuations yet.
Elevator Pitch
Wharf Real Estate Investment Company Limited ( OTCPK:WRFRF ) [1997:HK] or Wharf REIC is rated as a Buy....
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Wharf Real Estate Investment: Expecting A Better 2024 (Rating Upgrade)