[ET Net News Agency, 15 June 2020] Goldman Sachs lowered its target price for China
Vanke (02202) to HK$30.5 from HK$30.7 and maintained its "neutral" rating.
The research house said Vanke's share placement on 11 June resulted in Goldman's 2020-22
EPS estimates decrease by -3%/-3%/-3% to Rmb3.75/Rmb4.07/Rmb4.40.
Goldman noted positive risks include deploying capital more aggressively than expected
to take full advantage of industry consolidation and drive a better growth outlook in the
coming years. The negative risk is weaker demand in higher-tier cities that could
substantially affect its medium-term growth on both price and volume weakness. (KL)