STOCKS | Morgan Stanley Keeps Sino Land At Equal-Weight, Sets HK$12 Target

Morgan Stanley kept Sino Land (00083) at Equal-Weight with a HK$12 target price, according to ETNet. The broker said Sino Land's rental EBIT should be broadly flat in the second half of fiscal 2025-26, supported by strong residential demand, stable office performance and improving retail conditions. Overall occupancy rose 0.5 percentage point to 90% as of June 2026. Morgan Stanley also said the company may allocate more capital expenditure to asset enhancement projects in the coming years. It expects negative returns from the office and retail segments to narrow in fiscal 2027. Sino Land's Hong Kong hotels posted higher revenue per available room and improved margins on rising visitor arrivals, while its Singapore hotels faced headwinds from a strong Singapore dollar and geopolitical uncertainty. Sydney continued to see strong local demand and ongoing renovation work.