0637 GMT - SM Prime Holdings' 2025 earnings growth is likely to be buoyed by its mall segment, Maybank Securities' Raffy Mendoza says in a research report, as the brokerage maintains the stock's buy rating. The brokerage assumes full contribution of new malls and over 200,000 square meters of malls' gross floor area at the property developer in the Philippines' emerging provincial areas this year. Also, SM Prime will continue to enhance its existing mall portfolio via its redevelopment program. However, the brokerage cuts its 2025 and 2026 net-income forecasts for the company by 8% each year to partly reflect management guidance. It lowers the stock's target price to PHP40.00 from PHP42.00, with an unchanged buy rating. Shares are unchanged at PHP24.35. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 02, 2025 02:37 ET (06:37 GMT)
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