[ET Net News Agency, 25 October 2019] Daiwa Research raised its target price for
Longfor Group Holdings (00960) to HK$35.3 from HK$32.7 and maintained its "buy" rating.
The research house has recently met with Longfor for an update on its operating
performance. With steady contract sales growth, sizable and growing recurring income, and
solid financial management capability, Daiwa sees Longfor as one of the more defensive
property plays under our coverage.
As the company only requires CNY15.1bn of monthly sales in October-December versus
CNY19.4bn of achieved monthly sales in 9-month, Daiwa thinks it looks on track to complete
or even exceed its sales target. With more projects scheduled for launch in 4Q, Daiwa
anticipates strong monthly sales in 4Q and raised its sales forecast in 2019 to
CNY235bn.(KL)
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00960 LONGFOR GROUP
Nominal 
9.780 +0.330 (+3.492%) Research Report
25/10/2019 14:41
{I-bank focus}Daiwa raises Longfor Group (00960) to HK$35.3
| Remark: | Real time quote last updated: 25/04/2024 15:29 |
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