Citibank: Maintain "Buy" rating on BEKE-W (02423), raise target price to HK$72.86.

Citi released a research report stating that BEKE-W (02423) maintains a "buy" rating, with a target price raised from 60.72 Hong Kong dollars to 72.86 Hong Kong dollars. The bank reiterated that Beike is the preferred choice, believing that the stability of the domestic real estate market will drive the group's GTV prospects. Beike's strong performance in the first quarter and the possibility of being included in the Hong Kong Stock Connect in March have led the bank to conduct a 30-day positive catalyst observation on the company. Citi stated that Beike is driven by multiple positive factors, including strong second-hand transaction volumes in major cities; the group benefiting from stable expectations for the domestic real estate market; the possibility of being included in the Hong Kong Stock Connect; expectations of the GTV-driven performance in the last quarter slightly exceeding expectations, and strong first quarter performance.