China Resources(Holdings)Co.,Ltd.

HSBC Lifts CHINA RES LAND (01109.HK) Target to $29.9; Rated Buy

Time:2017-08-31Source:AAStocks Financial News

HSBC Global Research, in its report, said CHINA RES LAND interim core profit declined 48% yearly. While the interim profit decline is somewhat of a disappointment, particularly when compared to the strong earnings report of its sector peers, the broker noted that the full-year earnings outlook should remain intact as the project delivery schedule is back-end loaded. Net gearing increased 18 ppts yearly but still remained at a reasonable level of 42%.

The broker reiterated Buy with target price lifted from $28 to $29.9. (AAStocks Financial News) 2017/08/25