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DBS: Country Garden – Buy Target Price HK$2.94

Posted on September 2, 2022September 2, 2022 By alanyeo No Comments on DBS: Country Garden – Buy Target Price HK$2.94
Breaking through headwinds
  • Presales performances came in better than feared despite its concentrated exposure in lower tier cities 
  • Financial safety is top priority; dividends suspended until operating environment and profitability recover
  • Cut FY22-23F earnings by 46-48% to reflect slower presales and lower margin assumptions
  • Maintain BUY, with TP trimmed to HK$2.94/sh
Country-Garden_1-Sep-2022_HK_CUClick here to Download Full Report in PDF

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Research - Equities Tags:Country Garden

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  • My Opinions/ Views
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