[ET Net News Agency, 20 February 2020] Jefferies Research lowered its target price for
China SCE Group Holdings (01966) to HK$6.66 from HK$6.8 and maintained its "buy" rating.
The research house said China SCE owns RMB400bn saleable resources with 70% in T1/2
cities positioning it to benefit from the buoyant high-tier market. Jefferies is more
bullish than the street and believes that China SCE can sustain 30% sales growth
(potentially the highest in the sector) to become an RMB100bn club player this year given
its rich saleable resources.
Jefferies expects that China SCE's earnings growth will accelerate to 44% FY2020 given
its strong sales and stable margin. It believes China SCE's unique asset-light model helps
it to secure quality landbank in high-tier cities at below market price to secure a 30%
gross margin in the medium term. (KL)
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01966 CHINA SCE GROUP
Nominal 
0.126 +0.007 (+5.882%) Research Report
20/02/2020 15:28
{I-bank focus}JEF cuts China SCE Group (01966) to HK$6.66
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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