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00688 CHINA OVERSEAS
RTNominal up12.900 +0.760 (+6.260%)
Others

18/10/2019 11:54

{I-bank focus}Jefferies starts China Overseas at HK$33.98

[ET Net News Agency, 18 October 2019] Jefferies Research initiated coverage on China
Overseas Land & Investment (COLI)(00688) with a "buy" rating and a price target of
HK$33.98.
The research house said COLI is a top-10 developer with saleable resources of HK$1.8trn
(80% in T1/2 cities) and should be able to sustain 20+% sales growth in the medium term.
Jefferies expects its 10mn sqm IP (investment property) portfolio (includes those in the
pipeline) to support 21% rental CAGR in the next three years (management targets HK$10bn
by 2023).
Jefferies forecast mid-teen earnings CAGR, above-peer gross margin (32-35%) and a higher
dividend payout in FY2019-21. (KL)

Remark: Real time quote last updated: 25/04/2024 17:48
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