[ET Net News Agency, 28 October 2019] Daiwa Research lifted its target price for
Country Garden Services (CGS)(06098) to HK$28.7 from HK$25.1 and maintained its "buy"
rating.
The research house sees CGS as having a robust project pipeline, indicating high
earnings visibility. Daiwa also thinks its expansion outside Country Garden (CG)(02007),
especially its participation in the "Three Supplies" programme was timely and could ensure
sustained growth in the long term.
Besides, CGS plans to manage PetroChina's commercial and industrial space at the mining
area and production facilities, as well as provide VAS in the long run.
Daiwa raised its 2019-21 revenue forecasts by 2-9% and net profit estimates by 2-6%.
(KL)