China Overseas Land Has Scope Keep Market Edge -- Market Talk

Dow Jones03-29

0600 GMT - China Overseas Land & Investment continues to be a buy for Citi Research analysts, who think the company has the resources it needs to continue to be a market leader in property development despite sector-wide concerns about margins. The company has an edge over rivals thanks to its state-owned background, analysts Griffin Chan and Ken Yeung say in a research note. That gives it advantages in land banking, expense controls and funding costs. They take further note of the upbeat outlook given by the developer, who sees China's property sector improving on increasing policy support. Citi raises the stock's target to HK$16.20 from HK$15.60. Shares last closed at HK$11.26; trading is closed today due to a holiday. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

March 29, 2024 02:01 ET (06:01 GMT)

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