Credit Suisse gave Ruian Real Estate (00272.HK) an “outperform the market” rating for the first time, with a target price of 2.7 yuan. The bank believes that Swifang has high quality assets in the first and second tier cities in the mainland, but the stock price has been outperforming its peers since the beginning of the year. It is believed that this is due to its slow asset turnover, unstable sales performance, and concerns about its capital shortfall and high level of debt. According to Credit Suisse, the pace of development of Ruifang has been slow in the past, but several actions and events have been made this year, reflecting the company's determination to release asset value, including Chairman Luo Kangrui's return to Ruifang, speeding up the sale of the entire commercial property, and the completion of the demolition of Taipingqiao. According to the bank, investors have ignored the development of Swiss housing and believe that now is the time to re-examine it. Credit Suisse predicts that the earnings per share forecast for 2014 to 2016 will be RMB 0.11, 0.07 and RMB 0.2, respectively.