[ET Net News Agency, 3 December 2019] Huatai Research lifted its target price for
Shenzhen Investment (SZI)(00604) to HK$3.2 from HK$2.9 and maintained its "hold" rating.
The research house said SZI enjoys heavy exposure to the lucrative Shenzhen property
market but lacks expansion ambition. Huatai reduced its core net profit estimates for SZI
by 9-12% over 2019-2021, mainly to factor in its refreshed physical property market
outlook for 2019-2020 and to reflect its lower assumptions for the company's contracted
sales in 2019-2021.
But Huatai sees no material catalysts in the short term to drive SZI's share price. (KL)