CHINA OVERSEAS Rises 4% as HSBC Research Upgrades to Buy
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CHINA OVERSEASshares rose 4.07% to HKD14.56 after HSBC Research upgraded its rating from Hold to Buy, increasing the target price from HKD13.4 to HKD16.5. The report highlights the company's strong presence in tier-one cities, which comprise 60% of its saleable resources, and a 14% year-on-year sales growth in the first four months of the year. The broker notes attractive valuations with a forecast 2027 PE of 10.4x and a PB of 0.3x, indicating potential for earnings recovery.
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