Ruian Real Estate (00272) maintained its rating outperforming the market, and the target price was raised to 3.2 yuan Credit Suisse

According to the Credit Suisse report, Ruifang (00272.HK) launched the Foshan Lingnan Tiandi project on Labor Day to capture demand after the purchase restrictions were completely removed. Of the 78 newly launched units, 38 were sold during the long holiday period, with an average price of about 12,000 yuan (6.2060, 0.0000, 0.00%) per square meter, which is higher than other surrounding projects. The bank pointed out that this year's sales will focus on the second half of this year because two key Shanghai projects were launched in the fourth quarter of this year.

The bank lowered its earnings per share forecast for 2016 and 2017 by 30% and 33% to take into account the completion schedule of new projects. Maintaining Ruifang's “outperform the market” rating, the target price was raised from 2.7 yuan to 3.2 yuan.