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DBS: Longfor Group – Buy Target price HK$30.05

Posted on August 30, 2022August 30, 2022 By alanyeo No Comments on DBS: Longfor Group – Buy Target price HK$30.05

Optimising business mix

  • Plans to reduce development exposure, with a 50:50 gross profit mix target between property development and recurring businesses in the medium term 
  • Earnings outlook may take a short pause in FY22-23, with lower but still decent dividend yield at c.5% 
  • Cutting FY22-24F earnings by 8-12% to factor in slower presales outlook, lower margin assumptions, and adjusted growth strategy 
  • Maintain BUY with TP of HK$30.05/sh
Longfor_30-Aug-2022_HK_CU-ResultsClick here to Download Full Report in PDF

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Research - Equities Tags:Longfor

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