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RTNominal down35.300 -0.450 (-1.259%)

06/01/2020 11:18

{I-bank focus}Huatai starts CG Servicesv(06098) at HK$32.2

[ET Net News Agency, 6 January 2020] Huatai Research initiated coverage on Country
Garden Services Holdings (CGS)(06098) with a "buy" rating and a target price of HK$32.2.
The research house expects that CGS should deliver solid scale growth, helped by the
backing of parent company Country Garden (CG)(02007). Huatai thinks CGS's community VAS
adds to the share's value thanks to the company's dominant position in the property
management markets across lower-tier cities; Huatai regards CGS as a direct proxy for the
consumption upgrade story of lower-tier cities.
It forecast CGS's GFA under management to reach 467mn sqm by 2021 (2018-2021 CAGR of
37%) with a largely stable average property management fee growth trend. (KL)

Remark: Real time quote last updated: 28/05/2020 17:58
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