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UBS Slightly Cuts KERRY PPT TP to HKD27, Maintains Buy Rating
2026-07-10 15:17:22
UBS published a research report estimating that KERRY PPT (00683.HK)'s core profit for 1H26 will reach HKD657 million, representing a YoY decline of 33%. Hong Kong contracted sales were expected to be approximately HKD5.5 billion, close to the level in 1H25.

Meanwhile, the broker expected seven units to be booked in 1H26 and another nine units in 2H26, involving approximately HKD1.4 billion and HKD1.8 billion respectively. The broker also forecast the company to maintain a stable dividend in 1H26.

Owing to delays in the property development booking schedule of KERRY PPT, the broker lowered the company's earnings forecasts for 2026-27 by 2-32%. Accordingly, the broker cut its TP from HKD27.6 to HKD27 and maintained the Buy rating.
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