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03380 LOGAN GROUP
RTNominal up12.240 +0.240 (+2.000%)
Research Report

30/03/2020 14:00

{I-bank focus}Nomura lifts Logan Property (03380) to HK$17.4

[ET Net News Agency, 30 March 2020] Nomura raised its target price for Logan Property
Holdings (03380) to HK$17.4 from HK$16.1 and maintained its "buy" rating.
The research house continues to like Logan's high sales/earnings/DPS visibility backed
by its high-quality land bank, large unbooked sales and profit support from early earnings
release of urban renewal projects.
Nomura appreciates management's commitment to providing above-peer sales growth guidance
(20% CAGR in FY2020-22), and its multi-channel land acquisition channel also stands out in
a heated land market.
With CNY85bn of unbooked sales at hand, a strong completion target in FY2020 and ongoing
profit support from urban renewal projects, Nomura expects EPS growth to remain resilient
in FY2020-22 at 26% CAGR. (KL)

Remark: Real time quote last updated: 28/09/2020 17:59
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