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<Research>JPM Adjusts TPs for CN Developers, Recommends CHINA RES LAND (01109.HK), CHINA RES MIXC (01209.HK) & GREENTOWN SER (02869.HK)
Recommend 8 Positive 12 Negative 7 |
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JPMorgan wrote in its research report that Chinese property developers delivered weak 1H24 results as expected, with profit margins continuing to be squeezed, while the profit performance of Chinese property managers was basically in line with expectations. The broker described the increase in dividends by some Chinese property developers and property managers as a mild positive surprise. For the remainder of this year, it added, the main drivers of their stock prices will shift back to their sales momentum and policies. JPMorgan preferred CHINA RES LAND (01109.HK), CHINA RES MIXC (01209.HK), and GREENTOWN SER (02869.HK), but remained cautious on CHINA VANKE (02202.HK). TPs and ratings are listed in a separate table. AAStocks Financial News |
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