Dohua Jixian: Raised BEKE-W (02423) target price to HK$53, upgraded to "Buy" rating
The company's profit forecast has been raised, with adjusted earnings expected to increase by 63% to 8 billion yuan in 2026. The target price corresponds to a valuation of 20 times earnings in 2026.
Dahua Jixian released a research report stating that BEKE-W (02423) exceeded the bank's and market expectations for adjusted net profit in the first quarter and revenue guidance for the second quarter. The target price has been raised from HK$41 to HK$53, and the rating has been upgraded to "buy". The bank has also raised the company's profit forecast, now expecting the adjusted profit to increase by 63% to 8 billion yuan in 2026, with the target price corresponding to a valuation of 20 times the price-earnings ratio for 2026.
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