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06158 ZHENRO PPT
RTNominal down0.041 -0.003 (-6.818%)
Research Report

03/12/2019 15:49

{I-bank focus}Huatai ups Zhenro Properties (06158) to HK$6.1

[ET Net News Agency, 3 December 2019] Huatai Research lifted its target price for
Zhenro Properties Group (06158) to HK$6.1 from HK$4.9 and upgraded its rating to "buy"
from "hold".
The research house said Zhenro will continue to improve profitability and reduce
leverage. Moreover, Zhenro has accumulated rich land bank in single-core cities (the
third-highest exposure within the China property sector), which adds to Huatai's
confidence in the company's ability to sustain decent contracted sales while maintaining
reasonable profitability over the next few years.
Huatai lifted its core net profit estimates by 5-13% in 2019-2021 after factoring in its
refreshed physical property market outlook for 2019-2020 and its updated property project
completion assumptions for the company. (KL)

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