[ET Net News Agency, 2 December 2019] Huatai Research lifted its target price for China
Aoyuan Group (03883) to HK$16.9 from HK$15.4 and maintained its "buy" rating.
The research house said Aoyuan continues to be one of its favorite names in the sector
thanks to its strong execution and high earnings visibility. Huatai fine-tuned its net
profit estimates for Aoyuan by -4% to 4% over 2019-2021 to factor in its refreshed
physical property market outlook for 2019-2020.
It said the stock is currently trading at attractive valuations (53% discount to 2020
NAV and 4.4x 2020 PE). (KL)