Goldman Sachs believes that Ke Holdings' growth rate will accelerate in the second half of the year, with total trading volume, revenue, and net income expected to increase by 23%, 27%, and 36% respectively.
According to the Futu Securities app, Goldman Sachs has released a research report stating that it expects revenue from Ke Holdings-W (02423) to increase by 13% YoY to 22 billion yuan, with a total trading volume (GTV) increase of 4% to 810 billion yuan, and non-GAAP net income falling by 8% to 2.2 billion yuan. It maintains a target price of HKD 54 and a 'buy' rating.
The bank believes that the Group's growth rate will accelerate in the second half of the year, with total trading volume, revenue, and net income expected to increase by 23%, 27%, and 36% respectively. It is expected that other business income including housing rental, renovation, and decoration will account for one-third of total revenue this year and will increase to 40% by 2026. The bank also expects the Group to continue its share buyback this year to achieve a net return to shareholders of no less than 5%.