KE Holdings Inc. (BEKE) shares plummeted 5.09% in pre-market trading on Friday.
The decline follows the company's release of better-than-expected second-quarter revenue guidance, which led UOB Kay Hian analyst Julia Pan to upgrade the stock to buy from hold and raise the target price to HK$53.00 from HK$41.00. KE Holdings expects second-quarter revenue of around 24 billion yuan, implying a 7.0% year-over-year decline, though the company noted intact market recovery trends and market share gains alongside declining cost ratios.
Concurrently, Mizuho Securities analyst Willer Chen indicated that KE Holdings is expected to be added to the Hang Seng Index following the quarterly review, a development that could enhance the stock's visibility and attract further investor capital.
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