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Citigroup: China Resources Land (01109) has a "buy" rating and the target price is raised to HK $48

智通财经2023-04-03

Zhitong Finance APP learned that Citigroup issued a research report stating that it gave China Resources Land (01109) a "buy" rating, believing that it is listed as the industry's first choice with its sufficient first-and second-tier land reserves, low-cost financing, ESG and attractive valuation, the target price was raised from HK $46.1 to HK $48. The company's goal this year is: the sales of mainland real estate development projects will reach the top 5, and commercial projects will achieve a 20% growth. Among them, the gross profit margin of 10 new shopping malls will be 70% to 75%, and it will focus on the return on assets (ROIC) and light Asset revenue and profit increased by more than 30%.

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