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DJ Shimao Services' Bright Outlook Prompts Buy Rating at Nomura -- Market Talk

· 02/07/2021 23:58

0458 GMT - Shimao Services could achieve 2019-2022 earnings growth of 81% CAGR, Nomura says, starting coverage of the stock at buy with a HK$20.00 target. Nomura expects the property group's assets under management to reach 59% CAGR over the same period and is upbeat on its expansion into new business lines such as catering services. The Hong Kong-listed company's expansion drive will also see it branch out into providing services to developers other than its parent company, Shimao Group, which should also fuel earnings growth. Shimao Services shares are trading 0.7% lower at HK$13.90. (yiwei.wong@wsj.com)

(END) Dow Jones Newswires

February 07, 2021 23:58 ET (04:58 GMT)

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