[ET Net News Agency, 31 May 2021] Goldman Sachs lowered its target price for A-Living
(03319) to HK$45 from HK$48 and maintained its "buy" rating.
The research house said key risks are weaker-than-expected integration of acquired
companies could impact A-Living's topline and profitability adversely; downward margin
pressure due to labour cost inflation and execution slippage; sharp slowdown in China
property market that undermines A-Living's earnings given the company's relatively high
exposure to housing transaction services. (RC)