[ET Net News Agency, 30 March 2021] Credit Suisse lifted its target price for Greentown
Service Group (02869) to HK$13.06 from HK$9.37 and upgraded its rating to "outperform"
from "neutral" on the faster growth outlook.
The research house said Greentown Service's FY2020 net profit of Rmb762mn was 9% above
Credit Suisse's estimates. Management guided for five-fold revenue growth in five years
(i.e. Rmb50bn in FY2025 with an implied CAGR of 38%).
Credit Suisse said Greentown Service has a good track record on external expansion and
management is to accelerate the momentum. It raised its FY2021-22 earnings estimates by
16.5%/21.5%. (KL)