Gelonghui, January 22 | CICC released a report stating that based on comprehensive advantages such as resources, model, and corporate governance, China Resources Land can calmly cope with external headwinds at this stage and falls within expectations. However, the bank believes that the core value of China Resources's investment is that it has the potential to break into a butterfly in the traditional development industry in a short period of time. This is the main reason why investors should choose for a long time. The bank maintained China Resources Land's “outperforming the industry” rating, with a target price of HK$43.5. The company traded 5.1 times the 2024 price-earnings ratio. Even without considering the valuation reshaping corresponding to model iterations, the company is now significantly undervalued.
研报掘金｜中金：维持华润置地“跑赢行业”评级 目标价43.5港元
Research Nuggets | CICC: Maintaining China Resources Land's “Outperform the Industry” Rating Target Price of HK$43.5
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