[ET Net News Agency, 13 January 2020] UBS Global Research increased its target price
for Agile Group Holdings (03383) to HK$13.4 from HK$8.5 and upgraded its rating to "buy"
from "sell".
The research house turned positive on Agile, due to recent policy relaxation in Hainan
and the possibility that its Hainan project booking may be accelerated to be in 1H 2020,
which would potentially boost Agile's 2020 booked GPM. The company has also engaged in
urban redevelopment with RMB100bn saleable resources, of which 60% is in Guangzhou.
Also, the strong rally in A-Living (03319), which is 54% owned by Agile, suggests the
stub value of Agile's property development business is at a trough valuation. (KL)