[ET Net News Agency, 18 January 2018] Daiwa Research lifted its target price for Shimao
Property (00813) to HK$25.5 from HK$20.72, and upgraded its rating to "buy" from
"outperform".
The research house believes Shimao's recovery story remains on track and its assessment
of the outlook for the China property market suggests the strengthening of its recovery
momentum in 2018.
Daiwa said Shimao has been actively optimising its landbank and has sharpened its market
focus since 2015. It thinks the company is now entering a harvesting phase, having built
up strong market positions in various major key cities, such as Beijing, Shanghai, Xiamen,
Fuzhou, and Nanjing, whose property-market prospects are expected to improve in 2018.
With its higher expected sell-through rate and more saleable resources for 2018-19,
Daiwa anticipated the company's sales CAGR accelerating to 32.5% in 2017-20. For 2018, the
research house forecast CNY141.0bn in sales for Shimao (+40% YoY) on abundant saleable
resources of CNY230-250bn. (KL)
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00813 SHIMAO GROUP
Nominal 
0.540 +0.010 (+1.887%) Others
18/01/2018 11:37
[I-bank focus]Daiwa lifts Shimao Property (00813) to HK$25.5
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