Goldman Sachs released a report on July 15th, stating that it slightly lowered the target price of China Resources Land (01109.HK) by 2% from HK$35.3 to HK$34.5. It also slightly adjusted the earnings forecast for 2024-2026 by 1%, 2%, and 2%, taking into account the recent land acquisition and contract sales performance. Goldman Sachs does not consider these changes to be significant, so it maintains a 'buy' rating. Goldman Sachs remains optimistic about the long-term growth prospects of China Resources Land, mainly due to its leading position in property investment (IP) operations, strong balance sheet, and strong land reserves in major cities in mainland China.
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Goldman Sachs: China Resources Land target price slightly lowered by 2%, maintains "Buy" rating.
Goldman Sachs released a report on July 15th, stating that it slightly lowered the target price of China Resources Land (01109.HK) by 2% from HK$35.3 to HK$34.5. It also slightly adjusted the earnings forecast for 2024-2026 by 1%, 2%, and 2%, taking into account the recent land acquisition and contract sales performance. Goldman Sachs does not consider these changes to be significant, so it maintains a 'buy' rating. Goldman Sachs remains optimistic about the long-term growth prospects of China Resources Land, mainly due to its leading position in property investment (IP) operations, strong balance sheet, and strong land reserves in major cities in mainland China.