Bank of America reiterated that Yuexiu Property is one of its preferred companies in the industry.
According to the Futu Securities App, Bank of America released a research report rating Yuexiu Property (00123) as a 'buy,' with a target price of HKD 7.5. The company received support from its affiliate, Yuexiu Capital (000987.SZ), buying up to 2% of the total share capital on the open market.
The bank believes that Yuexiu Capital holds some urban renewal resources in Guangzhou and Shenzhen, which may cooperate with Yuexiu Property to develop these projects, and again affirmed that Yuexiu Property is one of its preferred companies in the industry. It also stated that in addition to stock purchases as a catalyst, Yuexiu Property's positioning in upgrading products in first-tier cities and accelerated contract sales over the next few months may benefit from improvements in the real estate market.