[ET Net News Agency, 16 March 2021] Jefferies Research lifted its target price for
Shimao Services Holdings (00873) to HK$22.85 from HK$20.03 and maintained its "buy"
rating.
The research house said Shimao Services' strong FY2020 results are in-line with its
expectation. Jefferies is excited by management's aggressive new 3-year plan of growing
its revenue 5x bigger by FY2023, backed by several earnings drivers.
Jefferies believes the company can still deliver one of the strongest earnings growth
among peers (65% CAGR in FY2020-23), despite that it is cautious on the expansion and
margin of its new businesses.
It revised up its FY2021-23 earnings by 3-23% to factor in the stronger GFA growth and
new businesses. (KL)
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00873 SHIMAO SERVICES
Nominal 
0.800 +0.050 (+6.667%) Research Report
16/03/2021 17:46
{I-bank focus}JEF lifts Shimao Services (00873) to HK$22.85
| Remark: | Real time quote last updated: 26/04/2024 18:00 |
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