[ET Net News Agency, 27 August 2020] Credit Suisse raised its target price for Shimao
Property (00813) to HK$43.1 from HK$39.8 and maintained its "outperform" rating.
The research house said Shimao's 1H results were largely in line. The management guided
for contracted sales CAGR of 20-30% over 2020-24 and stays confident of achieving over 20%
earnings CAGR.
Credit Suisse sees potential for the company to beat its sales target of Rmb300bn (up
15%) on sufficient saleable resources and competitive city positioning. It believes the
strong sales, high earnings growth visibility and attractive dividend yield will drive a
re-rating for Shimao.
Credit Suisse raised its NAV estimates by 10% to factor in newly acquired land parcels.
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00813 SHIMAO GROUP
Nominal 
0.305 0.000 (0.000%) Research Report
27/08/2020 14:58
{I-bank focus}Credit Suisse lifts Shimao Property to HK$43.1
| Remark: | Real time quote last updated: 18/04/2024 17:59 |
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