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<Research>BofAS Lifts CHINA RES MIXC (01209.HK) TP to $50, Optimistic on Retail Recovery & Property Mgmt Biz Improvement
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BofA Securities released a research report lifting its target price for CHINA RES MIXC (01209.HK) from $46 to $50, with rating reiterated at Buy. Regarding the retail business of CHINA RES MIXC, the broker believed that the visibility of same-store sales growth exceeding 10% and overall retail sales growth exceeding 15% this year has improved. In terms of property management, it is now expected that home prices in first-tier cities will largely stabilize around 2H26, alleviating pressure on household value-added services, fee collection and service pricing. Therefore, as the drag from the sluggish property market begins to diminish, BofA Securities raised its FY2026 earnings target multiple for the property management business from 10x to 15x. AASTOCKS Financial News |
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