[ET Net News Agency, 6 December 2019] Goldman Sachs initiated coverage on ESR Cayman
Ltd (01821) with a "buy" rating and a target price of HK$20.5.
The research house said ESR is one of the largest APAC logistics platforms by GFA and
value, with the largest development pipeline across major APAC markets by GFA.
It believes ESR's competitive advantages lie in its (1) large APAC-focused platform,
which provides scale and network effects for tenants/capital partners, and (2) funds
platform (AUM: US$20.2bn as of June 2019), which facilitates a lighter balance sheet and
lowers development risks.
Goldman forecast headline net income to grow at a 38% CAGR and adjusted net profits to
grow at a 50% CAGR (excluding revaluation gains) over 2018-21. (KL)
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01821 ESR
Nominal 
8.350 -0.040 (-0.477%) Research Report
06/12/2019 17:49
{I-bank focus}Goldman starts ESR (01821) at "buy" & HK$20.5
| Remark: | Real time quote last updated: 24/04/2024 17:59 |
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