[ET Net News Agency, 24 August 2020] Goldman Sachs raised its target price for Logan
Property Holdings (03380) by 8% to HK$15.5 and maintained its "neutral" rating.
The research house said Logan reported broadly in line 1H results with core profit of
Rmb5.3bn accounting for 42% of prior FY2020 Goldman's estimates. Given Rmb134bn saleable
in 2H, management is confident to achieve its Rmb110bn target, which implies 50%
sell-through rate for 2H.
It raised its 2020-22 EPS forecasts by 3%/7%/13% after factoring new project
acquisitions and urban renewal acceleration. (KL)