[ET Net News Agency, 3 December 2019] Huatai Research lifted its target price for Times
China Holdings (01233) to HK$19.4 from HK$17 and maintained its "buy" rating.
The research house said Times will enter the harvest season for earnings growth over the
next few years, thanks to its quality land bank in Guangdong. It added that Times has the
most attractive valuation among the three Great Bay Area (GBA) players under coverage, the
other two are China Aoyuan Group (03883) and Logan Property Holdings (03380).
Huatai fine-tuned its core net profit estimates for Times by -0.8% to 0.7% in 2019-2021
mainly to reflect its refreshed physical property market outlook for 2019-2020 and its new
project completion schedule assumptions for Times. (KL)