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HSBC lifts Swire Properties (01972) to HK$34.2

  HSBC Global Research lifted its target price for
Swire Properties (01972) to HK$34.2 from HK$32.7, and reiterated its "buy" rating.
  The research house said Swire Properties reported a solid set of FY2017 results, with
underlying profit growth of 10% to HK$7.8bn, in line with market consensus. Both HK rental
income and China rental contributed a similar weight to the FY2017 growth.
  HSBC believes the trend should persist in 2018.
  It estimated overall underlying profit growth (excluding property trading) of 7% in 2018
and 15% in 2019 to HK$8.2bn, compared with 13% growth in 2017.

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