Goldman Sachs increased its target price for Sino Land (00083) to HK$14.45 from HK$14.05, and maintained its "neutral" rating.
The research house said Sino's 1H FY2017 underlying profit of HK$2,746mn (down 8.7% yoy) was still ahead of Goldman's HK$2,432mn estimates.
Goldman sees high earnings visibility ahead, amid a pre-sale locking across HK and China for 2H FY2017 and FY2018, albeit with a relatively small new launch pipeline in the near term, as management expects Kwun Tong development (1,800 units) pre-sales only by late CY2017 at the earliest.
Goldman revised its FY2017-19 EPS by 0.5% to 4.3%.
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