[ET Net News Agency, 26 March 2021] HSBC Global Research lifted its target price for
CIFI Holdings (00884) to HK$8.7 from HK$8.6 and maintained its "buy" rating.
The research house said CIFI reported satisfactory FY2020 results. Longer-term, CIFI
aims at a 15% CAGR in contracted sales growth and double-digit earnings growth in 2021-23.
HSBC considers that a decent growth pace under the current industry environment.
HSBC cut its core earnings estimates by 8%/11% for FY2021/22 as it revised down its
gross margin forecast. (KL)