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02669 CHINA OVS PPT
RTNominal up4.330 +0.100 (+2.364%)
Research Report

26/08/2019 13:37

{I-bank focus}HSBC raises China Overseas Property to HK$5

[ET Net News Agency, 26 August 2019] HSBC Global Research raised its target price for
China Overseas Property (COPL)(02669) to HK$5 from HK$3.8 and maintained its "buy" rating.
The research house said COPL reported a fair set of 1H results, with core earnings up
11%, in line with HSBC's forecast. Backed by its strong parent COLI (00688), the company's
longer-term growth story is intact, said HSBC. COPL continues to actively pursue market
expansion and enlarge its scale by securing external and JV projects. At the same time, it
maintains a solid financial position of net cash in 1H.
HSBC raised its core profit by 2% in both FY2019/20 on higher growth pace of value-added
services and gross margin assumptions. (KL)

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