[ET Net News Agency, 12 January 2021] Jefferies Research lifted its target price for
Sunac China (01918) to HK$46.17 from HK$44.96 and maintained its "buy" rating.
The research house believes Sunac may surprise the market on the upside with its good
de-gearing progress in the FY2020 results reporting in mid-March.
Jefferies expects its improving balance sheet would lower market's concern on the
company's medium-term sales/earnings growth under the current tight credit environment,
and thus supports stock re-rating. It sees Chairman's recent stake increase offers good
downside protection. (KL)