Citi Cuts TP on COUNTRY GARDEN and SUNAC; Sales Momentum Remains Weak
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Citi has downgraded its price targets for COUNTRY GARDEN and SUNAC due to weak sales momentum and ongoing execution risks. COUNTRY GARDEN's target price is reduced from HKD0.29 to HKD0.25, maintaining a "Sell/High Risk" rating. SUNAC's target price is cut from HKD1.59 to HKD1.20, with a "Neutral/High Risk" rating. Both companies face challenges in debt reduction and sales performance, with significant discounts to their forecast NAV per share for 2026.
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