[ET Net News Agency, 28 January 2021] BOCI Research tweaked its target price for CIFI
Holdings (00884) to HK$7.8 from HK$7.88 and maintained its "buy" rating.
The research house said estimated CIFI's 2020 core earnings to grow by 14.8%, which
should be one of the strongest among large-to-medium sized developers. This is after BOCI
cut its 2020 core earnings by 7.4% as it lowered its gross margin assumption by 1.1ppts to
25.1%, the same as last year.
BOCI's analysis shows that under the "three red lines" finance new rules, it is easier
for CIFI to enter the "green zone" from "yellow zone" names. Together with over 20% 2020
ROE and 14.8% 2020 contracted sales growth, BOCI believes CIFI offers one of the best
risk-return profiles in the sector. (KL)
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00884 CIFI HOLD GP
Nominal 
0.236 0.000 (0.000%) Research Report
28/01/2021 14:42
{I-bank focus}BOCI tweaks CIFI Holdings (00884) to HK$7.8
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