CLSA Remains Optimistic on HK Luxury Sales Outlook; WHARF REIC Top Pick in Luxury Retail Sector
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CLSA has issued a report indicating a positive management tone from WHARF REICfor the first time since the post-pandemic reopening. The broker highlights strong luxury goods sales during the May Day Golden Week and improved per capita spending, partly due to HKD depreciation. CLSA maintains an Outperform rating on WHARF REIC with a target price of HKD40, considering it the top pick in the luxury retail sector.
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