[ET Net News Agency, 6 January 2020] Huatai Research initiated coverage on China
Overseas Property (COPL)(02669) with a "hold" rating and a target price of HK$5.3.
The research house said COPL demonstrates a good balance between property management
service quality and potential upside to grow its value-added services (VAS); especially
community VAS. In view of its prospects for relatively stable scale growth over the next
two to three years, Huatai said COPL's current valuation looks reasonable.
With the management share option scheme still not finalized, Huatai sees no significant
catalyst to drive COPL's share price higher.
Huatai forecast COPL's VAS revenue will record a 38% CAGR over 2018-2021, making VAS
another sustainable source of growth for the company. (KL)