[ET Net News Agency, 3 January 2020] Citi Research raised its target price for Yuexiu
Property (00123) to HK$2.35 from HK$2.23 and maintained its "buy" rating.
The research house said Yuexiu is committed to enhancing profitability with ongoing
optimization to harvest unique land banking edge in Guangzhou on parent company support,
and with improved focus on asset turn and execution.
Citi noted ample Rmb77.5bn unbooked sales (30% GPM) supports an estimated 16% earnings
CAGR with enhancing ROE (estimated 9.6% in 2021). (KL)