[ET Net News Agency, 13 January 2021] UBS Global Research lowered its target price for
China Evergrande Group (03333) to HK$6 from HK$15.2 and downgraded its rating from
"neutral" to "sell" due to rich valuation.
The research house expects Evergrande to continue facing (1) contract sales growth
deceleration as it needs to prioritise deleveraging to growth, and (2) margin pressure as
it has been aggressively cutting prices and using sales channels (so higher selling costs)
since 2H 2019.
UBS thus cut 2021 contract sales growth to -2%, and 2020-22 earnings by 50-60%. (KL)
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Super Quote | Detail Quote | Interactive Chart | Transaction | Related News | Related Securities | Company Information | Dividend Records | Short Sell
03333 EVERGRANDE
Nominal 
0.163 0.000 (0.000%) Research Report
13/01/2021 15:52
{I-bank focus}UBS downgrades Evergrande (03333) to HK$6
| Remark: | Real time quote last updated: 19/04/2024 15:03 |
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