[ET Net News Agency, 30 March 2021] Credit Suisse lifted its target price for China
Overseas Land & Investment (COLI) (00688) to HK$28.68 from HK$27.18 to reflect the newly
acquired land and maintained its "outperform" rating.
The research house said COLI's FY2020 core profit of Rmb38bn was broadly in line.
Management guided for double-digit sales growth over the next five years. Looking into
2021, Credit Suisse estimated a 15% sales growth with the required sell-through rate at
54% (versus 49% achieved in 2020).
Credit Suisse fine-tuned its FY2021/22 estimates. (KL)