[ET Net News Agency, 25 March 2020] Huatai Research lowered its target price for
Longfor Group Holdings (00960) to HK$39.9 from HK$41.4 and maintained its "buy" rating.
The research house said Longfor's 2019 results were generally in line with Huatai's
expectation. It said Longfor's clear guidance of double-digit year-on-year earnings growth
over the next three years further confirms the developer the most defensive name in the
sector, especially given the macro uncertainties.
With another 19 shopping malls planned to commence operation over 2020-21, Huatai
forecast that Longfor to deliver a rental income CAGR of 30% over 2019-2022. (KL)