[ET Net News Agency, 23 December 2020] Citi Research lowered its target price for China
Vanke (02202) to HK$33.32 from HK$35.9 and reiterated its "buy" rating.
Supported by concrete progress on its diversified operations within the property
"ecosystem", Vanke's positioning as the "urban-rural development and daily life services
provider" should aid it to drive continuous revenue growth offset by a small decline in
margins, the research house said.
Backed by its huge Rmb725bn unbooked sales, to be recognized over the next two years,
Vanke has paved a steady 8-12% core earnings growth path with high visibility. (KL)