Citi: Cuts Sunac Services (01516.HK) Target Price to HK$0.65; Weak Cash Conversion Constrains Valuation

Citi released a research report stating that Sunac Services (01516.HK) is constrained in valuation by weak cash conversion, lengthening receivables cycles, and the persistent shadow of related parties. The bank lowered its target price from HK$0.85 to HK$0.65, maintaining a "Sell" rating.