[ET Net News Agency, 30 October 2019] Nomura raised its target price for Seazen Group
(01030) to HK$10.35 from HK$7.5 and upgraded its rating to "buy" from "neutral".
The research house expects Seazen to soon resume acquisition of complex projects which
would be a strong positive signal of stabilization of relationships with funding partners
and local governments. It would also restore investor confidence in Seazen's growth
profile and rerate the stock.
With the resumption of land acquisition and abundant saleable resources (CNY900bn),
Nomura said Seazen should post a 15% sales CAGR in FY20-21 (CNY360bn in FY2021 versus
CNY270bn in FY2019), alleviating investors' growth concerns.
Seazen Group was formerly known as Future Land Development Holdings. (KL)