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Haitong Securities and Guotai Junan Securities Keep Optimistic about Evergrande and Expect HKD 12.15 and HKD 9.1 for the Stock Respectively

2015-05-04 22:16 2090

HONG KONG, May 4, 2015 /PRNewswire/ -- On May 4, Evergrande (3333.HK) had its expected price increased to HKD 12.15 and "Buy" rating reaffirmed in another report released by Haitong Securities two weeks after the release of the previous one. Additionally, Guotai Junan Securities increased its expected price for Evergrande to HKD 9.1 on Apr. 29. An original report from Sina Leju follows.

According to the report released by Haitong Securities, domestic property market, including the markets in first and second-tier cities, is enjoying a recovery which will allow the property projects of Evergrande to enjoy a good market again. Evergrande is expected to go beyond the goal of annual sales hitting RMB 150 billion in the report.

Haitong Securities reaffirms that Evergrande's implementation of the strategy focusing on high turnover, high profit, high value yet light asset will allow the Group to secure greater fundamentals and higher flexibility in stock price as specified in the first report released on Apr. 20. In addition, with the increasing connectivity between mainland and HK finance, the Group's change in logic of valuations will further create its value.

At present, the bullish Evergrande stock has been the most popular underlying stock under Shanghai-Hong Kong Stock Connect. In last trading day, the trading volume of Evergrande hit 398 million shares with capital of HKD 2.762 billion, allowing the Group to top the list of stocks with active trading under Shanghai-Hong Kong Stock Connect.

Source: Sina Leju
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HongKong:3333 OTC:EGRNY
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