[ET Net News Agency, 18 November 2019] Goldman Sachs raised its target price for China
Overseas Property Holdings (COPH)(02669) to HK$6.5 from HK$5.1 and upgraded its rating to
"buy" from "neutral".
The research house believes COPL's development strategy of "one base, two wings and four
drivers" formed in 2019 will further strengthen its top-line growth in 2021, accelerating
from 20% in 2020 to 26% in 2021, driven mainly by 17% and 24% growth in revenue-bearing
GFA, respectively.
Goldman expects accelerated contract sales growth by its parent China Overseas Land &
Investment (COLI)(00688) since 4Q 2018, leading to higher completions in 2020 and 2021
afterwards. (KL)