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RTNominal down38.700 -1.350 (-3.371%)
Research Report

07/05/2021 17:16

{I-bank focus}Morgan lifts Longfor Group (00960) to HK$60.28

[ET Net News Agency, 7 May 2021] Morgan Stanley lifted its target price for Longfor
Group Holdings (00960) to HK$60.28 from HK$52.81 and maintained its "overweight" rating.
The research house sees solid sales growth of 15% in 2021 and 15-20% in 2022-23. It
projected double-digit earnings growth (close to 20%) in FY2021-23, with business
diversification well on track.
Morgan said the investment property pipeline of Longfor looks strong, as Morgan sees
40% rental income growth in 2021 and >30% toward 2023. Meanwhile, a solid balance sheet
and low funding costs should benefit the company under the tightening policy.
It added that Longfor's strong earnings track record adding growth visibility. (KL)

Remark: Real time quote last updated: 26/11/2021 17:59
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