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00960 LONGFOR GROUP
RTNominal up11.060 +0.260 (+2.407%)
Research Report

03/12/2019 14:07

{I-bank focus}Huatai ups Longfor Group (00960) to HK$41.4

[ET Net News Agency, 3 December 2019] Huatai Research upped its target price for
Longfor Group Holdings (00960) to HK$41.4 from HK$35.1 and maintained its "buy" rating.
The research house said Longfor is one of the most favored property developers on the
market, thanks to its balanced development of both property sales and rental portfolio.
Huatai fine-tuned its core net profit estimates by 0.2-6.6% in 2019-2021 for Longfor after
factoring in its refreshed physical market outlook in 2019-2020 and adjusting its property
project completion schedule assumptions for the company.
It said that Longfor is currently trading at 28% discount to 2020 NAV and 8.5x 2020 PE,
which are reasonable. Thus, Huatai removed Longfor from its top picks. (KL)

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