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03377 SINO-OCEAN GP
RTNominal down0.285 -0.005 (-1.724%)
Others

03/12/2019 14:45

{I-bank focus}Huatai cuts Sino-Ocean Group (03377) to HK$2.5

[ET Net News Agency, 3 December 2019] Huatai Research cut its target price for
Sino-Ocean Group Holdings (03377) to HK$2.5 from HK$2.7 and maintained its "sell" rating.
The research house said Sino-Ocean is on the brink of missing its annual sales target
(again) for 2019, indicating weak execution capability. Huatai reduced its core net profit
estimates by 12% in 2019-2021 after factoring in its refreshed physical market outlook for
2019-2020, as well as its lower contracted sales and property project completion
assumptions for Sino-Ocean.
Huatai has limited expectations that Sino-Ocean will deliver improvement in contracted
sales, profitability and leverage in 2020; it does not forecast a rapid pick-up in
earnings growth for the company. (KL)

Remark: Real time quote last updated: 28/03/2024 18:00
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