Credit Suisse lowered 0733.HK 's earnings per share forecast for 11-13 by 33%, 34% and 27%. It pointed out that weak trading in the mainland's second-hand property market has hit its second-hand real estate agency business, which may record losses in the second half of November, but the new market agency business still performed well during the period. The bank lowered its target price from HK $4.4 to HK $3.9 (equivalent to 10.6 times 12-year earnings), but considered the current price of the shares to be only 5.7 times 12-year earnings, attracted valuations and reiterated its outperformance rating.