[ET Net News Agency, 3 December 2019] Huatai Research increased its target price for
China Overseas Land & Investment (COLI)(00688) to HK$42.4 from HK$40 and maintained its
"buy" rating.
It said COLI is a quality name within the sector, thanks to its sector-leading
profitability and stronger ambition for growth. However, the research house sees limited
near-term catalysts to boost its share price and thus removed the stock from its list of
top picks.
After factoring in its refreshed physical property market estimates, Huatai fine-tuned
its core net profit estimates for COLI by -3% to 2% over 2019-2021. It said that COLI is
trading at the most attractive valuation level among the big-cap names. (KL)