Greenway, December 6 | Bank of America Securities published a report stating that Taikoo's rating was upgraded from “neutral” to “buy,” and the target price remained at HK$62. The bank said that the group's HK$6 billion share repurchase plan was beyond expectations and would be a catalyst for narrowing its net asset value (NAV) and releasing value. Coupled with the special dividend it paid after the sale of its US beverage business and the HK$4 billion repurchase in 2022, it would strengthen its relationship with shareholders. The bank also believes that this repurchase news is slightly beneficial to its subsidiary Taikoo Real Estate because the company is now more likely to follow a dividend policy that increases the percentage of units per year to support the parent company's repurchases. The bank believes that the stock price of Swire Properties has more room for valuation to rise, but in a difficult environment, stable repurchases may provide more support for Swire A's share price. The bank mentioned that when the Group executed a stock repurchase of HK$4 billion earlier, its stock price outperformed the Hang Seng Index by more than 7% during the same period.