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00813 SHIMAO GROUP
RTNominal unchange0.470 0.000 (0.000%)
Research Report

13/01/2020 11:58

{I-bank focus}UBS ups Shimao Property (00813) to HK$34.8

[ET Net News Agency, 13 January 2020] UBS Global Research lifted its target price for
Shimao Property Holdings (00813) to HK$34.8 from HK$25.1 and upgraded its rating to "buy"
from "neutral".
The research house turned positive on Shimao, as the company has conducted several M&A
targeting distressed developers this year as an alternative channel to acquire land at a
lower land cost. Also, it noted the company is developing diversified businesses, eg,
culture, education, healthcare, science & technology as part of its future land
acquisition strategy.
In 2020, UBS thinks the spin-off of Shimao's property management business will be a
catalyst for the stock. Given the M&A in 2019, UBS expects the company's 2020 contract
sales to grow at 20%, faster than peers. (KL)

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