[ET Net News Agency, 2 December 2019] Huatai Research lifted its target price for
Country Garden Holdings (CG)(02007) to HK$11.6 from HK$11.2 and maintained its "hold"
rating.
The research house said CG has delivered reasonable contracted sales growth year to date
(5.2%) despite its immense size, for which it deserves credit. However, Huatai thinks CG
is past its prime, given Huatai's bearish view for property markets in lower-tier cities
over the next few years.
It fine-tuned its CG core net profit estimates for 2019/20/21 by 5%/2%/-9% to factor in
its refreshed physical property market outlook for 2019-2020 and its new project
completion schedule estimates for CG. (KL)
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02007 COUNTRY GARDEN
Nominal 
0.485 0.000 (0.000%) Others
02/12/2019 17:55
{I-bank focus}Huatai lifts Country Garden (02007) to HK$11.6
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