Goldman Sachs: KE's valuation has become reasonable, downgraded to "Neutral"
Goldman Sachs published a research report stating that KE (02423.HK) benefits from policy support boosting investor confidence and the recent strong performance of the second-hand housing market, driving up its stock price.
However, the firm believes that due to KE's valuation becoming reasonable after the recent stock price increase, it has downgraded its rating from "Buy" to "Neutral." Additionally, based on earnings revisions and valuation rolling to the end of 2026, the target price for KE has been adjusted to HKD 49, while the target price for KE (BEKE.US) in the US stock market has been adjusted to USD 19
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