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RTNominal up32.200 +0.050 (+0.156%)

03/12/2019 15:36

{I-bank focus}Huatai trims China Vanke (02202) to HK$31.5

[ET Net News Agency, 3 December 2019] Huatai Research cut its target price for China
Vanke (02202) to HK$31.5 from HK$32 and maintained its "hold" rating.
The research house said Vanke has entered the phase of steady (or possibly sluggish)
scale expansion, while its diversified businesses have not started to make a significant
contribution to its earnings growth.
Huatai slightly lowered its 2019/2020 contracted sales forecasts for Vanke due to its
mediocre sales performance in 10-month 2019. After factoring in its refreshed outlook for
the overall physical property market in 2019-2020, Huatai introduced its 2020 NAV estimate
of HK$35 per share for Vanke.
It reduced its core net profit estimates for Vanke by 1% to 4% in 2019-2021 as a result
of lower contracted sales and completion assumptions. (KL)

Remark: Real time quote last updated: 17/01/2020 17:59
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