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00081 CH OVS G OCEANS
RTNominal unchange1.740 0.000 (0.000%)
Research Report

03/12/2019 18:01

{I-bank focus}DBS lifts China OVS Grand Oceans to HK$5.79

[ET Net News Agency, 3 December 2019] DBS Group Research lifted its target price for
China Overseas Grand Oceans Group (COGO)(00081) to HK$5.79 from HK$3.6 and maintained its
"buy" rating.
The research house expects COGO to register >50% earnings growth in FY2019, driven by
fast sales booking and margin expansion. Management has committed to growing its sales and
earnings at double-digit CAGR ahead and is looking at HK$100bn sales in 2021 (or 25.6%
CAGR in 2018-2021), which looks achievable given its geographic expansion and deeper
penetration in existing cities.
This, coupled with attractive dividends, will help to rebuild investors' confidence, DBS
added. (KL)

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