Stock Track | Greentown Service Group Surges 7.6% on Analyst Upgrade, Margin Outlook

Stock Track08-27

Shares of Greentown Service Group soared 7.62% in intraday trading on Monday, August 27, as analysts at CGS International upgraded the Chinese property management company's stock rating and raised its target price, citing expectations for strong earnings growth.

In a research report, CGS analysts upgraded Greentown Service Group to an "add" rating from "hold" and increased the target price to HK$4.24 from HK$4.20. The analysts highlighted the company's potential for earnings per share growth, driven by margin improvement in its core property management services business.

According to the report, Greentown Service Group's gross profit margin from property management services widened by 1.1 percentage points in the first half of 2024. Additionally, the company's management targets an overall gross profit margin increase of 0.50 percentage points and a 0.50 percentage point reduction in its selling, general, and administrative expense ratio for the full year 2024.

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