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Research Report

27/08/2020 09:42

{I-bank focus}Goldman raises Country Garden (02007) to HK$13

[ET Net News Agency, 27 August 2020] Goldman Sachs raised its target price for Country
Garden Holdings (02007) to HK$13 from HK$11.7 and maintained its "buy" rating.
The research house said Country Garden's 1H core profit (excluding post-tax revaluation
gains, FX impact, loss on early redemption of notes, fair value changes of derivatives) of
Rmb14.61bn accounts for 33% of FY2020 Goldman's estimates.
With management's upbeat sales growth guidance (10% to 20% growth over the next three
years) and a strong project pipeline in the coming months, Goldman raised its attributable
sales forecast in 2020 to Rmb608bn (representing 10% growth).
Factoring in the latest project acquisitions, Goldman revised up its 2020-22 underlying
EPS forecasts by 0%/1%/6%. (KL)

Remark: Real time quote last updated: 30/10/2020 17:59
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