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Investing.com - UBS has upgraded China Resources Mixc Lifestyle (HK:1209) from Neutral to Buy and raised its price target to HK$48.00 from HK$38.00.
The upgrade reflects China Resources Mixc’s "capability to identify emerging brands earlier than peers, especially with the rise of Chinese brands and divergent performance among brands," according to UBS.
The investment firm also cited "signs of luxury retail recovery" and "falling mall supply in 2026-27E" as factors that would be "positive to existing mall rental growth" for the company.
UBS projects higher earnings visibility for China Resources Mixc in 2025-27E with a 15% compound annual growth rate (CAGR), supported by the company’s 100% dividend payout policy that includes special dividends.
The new price target is based on a 4.6% 2026E dividend yield with 15% dividend per share CAGR in 2025-27E, which UBS notes is 1.5 standard deviations above the company’s historical average of 2.7% since 2023.
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