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Research Report

06/07/2020 09:41

{I-bank focus}Goldman raises Evergrande (03333) to HK$18

[ET Net News Agency, 6 July 2020] Goldman Sachs raised its target price for China
Evergrande Group (03333) by 14% to HK$18 and maintained its "neutral" rating.
The research house said Evergrande's contract sales in 1H grew 24% and implies a 54%
run-rate, based on the company's Rmb650bn full-year guidance. Management indicated that it
might try to achieve Rmb800bn for 2020.
As a result, Goldman revised up its contract sales forecast by 15% in 2020 to Rmb692bn
and adjusted its 2021-22 EPS forecasts by +8%/+10% to reflect higher bookings from
stronger 2020 sales. (KL)

Remark: Real time quote last updated: 18/09/2020 17:59
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