[ET Net News Agency, 24 March 2020] Jefferies Research lowered its target price for
Agile Group Holdings (03383) to HK$8.55 from HK$12.77 and maintained its "buy" rating.
The research house noted that Agile's Chairman has expressed his conservative view on
the physical property market during results briefing, and he targeted flattish sales
growth in 2020.
Jefferies sees the company's further margin squeeze amid weak sales growth casting a
worrying negative outlook on its earnings in the next few years, and thus Jefferies
believes it may dispose of more assets to soften the earnings drop. Jefferies cut its
FY2020-21 earnings forecasts by 11-12%. (KL)