[ET Net News Agency, 23 September 2020] J.P. Morgan raised its target price for Country
Garden Services (CGS)(06098) to HK$63 from HK$59.5 and maintained its "overweight" rating.
The research house believes CGS has the best-in-class positioning that will drive
sustainable growth, namely (1) strong developer backing, (2) proven track record in
third-party bidding without reliance on M&A, and (3) vertical expansion to prepare for the
next growth driver.
JPM thinks CGS is still in a high-growth stage, and it forecast that CGS to deliver a
46% earnings CAGR in 2019-22. (KL)