According to the report released by Citigroup, Swire Pacific A's (00019) target price has been increased from HKD 77 to HKD 79.25 as it maintains a "buy" rating. The year-on-year decline in the company's basic earnings per share for the first half of this year is not surprising, mainly due to the decline in profits of Coca-Cola and Swire Properties. However, it is offset by the strong recovery of Cathay Pacific Airways (00293) and Hong Kong Terminal Group.

According to the report, the company currently has approximately 59% of authorized repurchase rights unused, and investors are willing to pay premiums for defensive safe-haven shares in the current volatile market. The bank maintains its forecast of HKD 94.34 for Swire's net asset value per share for 2025, and pointed out that Swire Properties' (01972) latest announced buyback plan of HKD 1.5 billion will boost Swire's asset net value growth.