[ET Net News Agency, 16 September 2019] Daiwa Research raised its target price for
Yuexiu Property (00123) to HK$2.1 from HK$2.05 and maintained its "buy" rating.
Yuexiu acquired another 2 metro property projects in Guangzhou for CNY8.91bn, after
having acquired its first metro project in February. The research house believes its
"Railway+Property" business strategy has started to be realised and will improve its
growth prospects in the longer run.
Upon the completion of the 2 acquisitions, Yuexiu's GFA of metro projects will total
3.2m square meters, accounting for 15% of its total landbank and 36% of its landbank in
the tier-1 cities. (KL)