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01918 SUNAC
RTNominal down0.940 -0.040 (-4.082%)
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02/06/2020 18:01

{I-bank focus}Goldman starts Sunac China (01918) at HK$44

[ET Net News Agency, 2 June 2020] Goldman Sachs initiated coverage on Sunac China
Holdings (01918) with a "buy" rating and a target price of HK$44.
Though the headroom for scale growth will be increasingly limited amid the downward
trend in China's housing market, Sunac is better off than the rest of the top-five
developers given the depth of its land bank portfolio (size, geographic exposure and
competitive cost), combined with strong execution, said the research house.
Goldman expects 11%/20% pre-sales/earnings CAGRs for Sunac in 2020-22, both higher than
average flattish/+3% for the rest of the top five peers. (KL)

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