[ET Net News Agency, 26 August 2019] Goldman Sachs raised its target price for Country
Garden Services (CGS)(06098) to HK$29.3 from HK$27 and maintained its "buy" rating on the
promising earnings growth outlook.
The research house said CGS's 1H net profit of Rmb817mn accounts for 61% of Goldman's
prior FY2019 estimate, mainly on basic property management (PM) top-line and margin beat.
Goldman increased its 2019-21 EPS forecasts by 15%/11%/6% to reflect the upbeat scale
expansion and margin performance for basic PM business. (KL)