Damo lowered Vanke Enterprise (02202)'s core profit forecast for 2024 to 2026 by 14.1%, 1.1% and 1.3%, respectively.
The Zhitong Finance App learned that Morgan Stanley released a research report stating that it gave Vanke (02202) the “same as the market” rating, lowered the 2024-2026 core profit forecast by 14.1%, 1.1% and 1.3%, respectively, and the target price was lowered from HK$5.35 to HK$5.15.
According to the report, the company sold the Shenzhen Nanshan project for more than 2.2 billion yuan and is expected to lose 1.79 billion yuan, so the profit forecast was lowered. Taking into account Vanke's recent sales situation, it also lowered its gross margin forecast for 2024 to 2026.