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00960 LONGFOR GROUP
RTNominal up11.060 +0.260 (+2.407%)
Research Report

09/02/2021 17:19

{I-bank focus}Daiwa lifts Longfor Group (00960) to HK$51.3

[ET Net News Agency, 9 February 2021] Daiwa Research lifted its target price for
Longfor Group Holdings (00960) to HK$51.3 from HK$47.3 and maintained its "buy" rating.
The research house sees Longfor as one of the defensive names with sustained sales
growth and profitability, a strong financial position, and sizeable and growing recurring
income, which make it stand out amid policy and credit tightening.
Daiwa anticipated it to achieve 13% growth in its contract sales to reach CNY305bn, on
the back of a 60% sell-through rate (2020: 64%). But it trimmed its 2020-22 net profit
forecasts by 2-3% and EPS estimates by 5-7%. (KL)

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