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01109 CHINA RES LAND
RTNominal up33.550 +0.950 (+2.914%)
Research Report

07/05/2021 17:08

{I-bank focus}Morgan lifts China Resources Land to HK$50.79

[ET Net News Agency, 7 May 2021] Morgan Stanley lifted its target price for China
Resources Land (01109) to HK$50.79 from HK$46.46 and maintained its "overweight" rating.
The research house sees steady sales growth of 11% in 2021 for CR Land and attributable
sales growth of 15% CAGR from 2022-25. Morgan projected low double-digit earnings growth
in FY2021-23.
It views CR Land's investment property pipeline as strong, with a rental income CAGR of
20-30% from 2021-25. Morgan added that a strong balance sheet and low funding costs should
benefit the company under the tightening policy. (KL)

Remark: Real time quote last updated: 02/12/2021 11:58
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