[ET Net News Agency, 13 January 2020] UBS Global Research raised its target price for
CIFI Holdings (00884) to HK$7.8 from HK$3.9 and upgraded its rating to "buy" from "sell".
The research house turned positive on CIFI, due to potential policy relaxation. The
company also has started to engage in urban redevelopment in Guangdong province, through
its collaboration with Fantasia to acquire land for a lower cost than in the public land
auction market.
UBS expects CIFI's 2020 gross contract sales to grow by 15-20%, and attributable sales
to be higher than this due to rising attributable interest. (KL)