[ET Net News Agency, 13 January 2020] CICC Research raised its target price for Country
Garden Services (CGS)(06098) to HK$9.2 from HK$8 and maintained its "outperform" rating.
The research house lifted its earnings forecasts in 2019/20/21 all by 3% to Rmb1.55bn,
Rmb2.06bn, and Rmb2.81bn (+68%, 33%, and 36%), considering the all-round development of
CGS.
CICC expects over 45%, 40% and 35% growth in managed GFA in 2019, 2020 and 2021,
considering the solid support from Country Garden (02007), gradual delivery of GFA
reserves from third-party projects, and M&A.
It expects the growth momentum in community VAS (value-added services) to continue (over
60% CAGR in community VAS revenue in 2019-2021, versus 73% in 2018 and 79% in 1H 2019),
driven by both expanding GFA under management and increasing penetration of VAS into
managed communities. (KL)
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06098 CG SERVICES
Nominal 
4.440 +0.140 (+3.256%) Others
13/01/2020 18:01
{I-bank focus}CICC raises CG Services (06098) to HK$9.2
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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