TC

09/03/2021 14:50

{I-bank focus}JPM slashes China Aoyuan (03883) to HK$11.5

    J.P. Morgan slashed its target price for China Aoyuan Group (03883) to HK$11.5 from HK$13 and maintained its "overweight" rating.
  Rooted in the Greater Bay Area (GBA) and aggressively expanding nationwide, Aoyuan is entering a multi-year earnings breakout, the research house believes.
  JPM thinks it offers one of the strongest growth profiles among Chinese developers, with a 31% earnings CAGR (2019-22).

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