[ET Net News Agency, 12 November 2019] Goldman Sachs raised its target price for Shimao
Property (00813) to HK$34.6 from HK$30.8 and maintained its "buy" rating.
The research house raised Shimao 2020/21 underlying EPS forecasts by 11% and 14% to
reflect stronger contract sales outlook in 2020-21, and better margin outlook for 2021.
Goldman said Shimao has maintained strong land banking activities, on the back of
Rmb90bn for new acquisitions year-to-date with an average land cost of Rmb5,500/sqm, this
has translated into 149% land GFA acquired/property GFA sold.
Goldman also raised its GPM/NM forecast for 2021 given high-margin projects in HK,
Shenzhen, Beijing, Hangzhou, and Guangzhou that the company acquired during 2016-19 will
be booked in 2021. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
00813 SHIMAO GROUP
Nominal 
0.320 +0.015 (+4.918%) Others
12/11/2019 17:04
{I-bank focus}Goldman ups Shimao Property (00813) to HK$34.6
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
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