[ET Net News Agency, 24 March 2021] Credit Suisse lifted its target price for Country
Garden Services (06098) to HK$95.58 from HK$84.31 and maintained its "outperform" rating.
The research house said CG Services' FY2020 net profit of Rmb2.7bn was 3% ahead of
Credit Suisse's estimate.
Management targets to achieve revenue of >Rmb115bn in FY2025, with an implied five-year
CAGR at 50%, and expects an even faster growth rate over FY2021-23. Meanwhile, management
guided for a largely stabilised margin trend on the economies of scale and more
introduction of high technology.
Credit Suisse raised its FY2021-22 profits by 14-17% to factor in: (1) faster scale
expansion, (2) contribution from new business, and (3) higher community VAS growth. (KL)
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06098 CG SERVICES
Nominal 
4.440 +0.140 (+3.256%) Research Report
24/03/2021 16:39
{I-bank focus}Credit Suisse lifts CG Services to HK$95.58
| Remark: | Real time quote last updated: 19/04/2024 18:00 |
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