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02007 COUNTRY GARDEN
RTNominal down7.300 -0.190 (-2.537%)
Research Report

09/03/2021 11:34

{I-bank focus}JP Morgan cuts Country Garden (02007) to HK$12

[ET Net News Agency, 9 March 2021] J.P. Morgan cut its target price for Country Garden
Holdings (02007) to HK$12 from HK$13 and maintained its "overweight" rating.
The research house said Country Garden is a slow-growing giant. JPM believes the company
has built a model that can deliver organic profit growth of 10% over an extended period,
but that, in order to break out, alternative land banking is needed, including
materializing old project redevelopment or specialty towns, for which timing and scale are
uncertain.
In order for the trading range to break out before the achievement of higher growth, a
more active capital recycling, including a higher dividend payout ratio and consistent
share buybacks, could help, the research house believes. (KL)

Remark: Real time quote last updated: 27/09/2021 17:59
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