[ET Net News Agency, 26 February 2020] Nomura lifted its target price for China
Overseas Land & Investment (COLI)(00688) to HK$38.4 from HK$36.2 and maintained its "buy"
rating.
The research house appreciated COLI's defensive positioning on the back of its ample and
high-quality land bank (land bank life 4.5 years; 72% of the land bank is in tier 1 and
core districts of tier 2 cities).
Nomura expects COLI's contracted sales to register a 12% CAGR in 2020-21, outperforming
the average of 7% CAGR Nomura forecasted for the top 10 companies. It forecast a 21% EPS
CAGR over FY2020-21, accelerating from +10% CAGR in FY2018-19. (KL)