Goldman Sachs' report stated that Beike's (02423.HK) second quarter performance exceeded expectations, and the stock price is expected to respond positively. The report pointed out that Beike's second quarter revenue and contribution profit from all divisions were higher than the bank's and market's forecasts. The bank expects to hear more about management's outlook on total transaction volume and revenue for the third quarter during the earnings conference call. Currently, the bank leans towards a conservative outlook similar to previous quarters, possibly slightly weaker against the backdrop of July's housing transaction data. Goldman Sachs rates Beike as a buy, with a target price of $21 for US stocks and HKD 54 for Hong Kong stocks, based on a forecasted 2025 P/E ratio of 17 times.
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Goldman Sachs: Beike's second-quarter performance exceeds expectations, and the stock price is expected to react positively.
Goldman Sachs' report stated that Beike's (02423.HK) second quarter performance exceeded expectations, and the stock price is expected to respond positively. The report pointed out that Beike's second quarter revenue and contribution profit from all divisions were higher than the bank's and market's forecasts. The bank expects to hear more about management's outlook on total transaction volume and revenue for the third quarter during the earnings conference call. Currently, the bank leans towards a conservative outlook similar to previous quarters, possibly slightly weaker against the backdrop of July's housing transaction data. Goldman Sachs rates Beike as a buy, with a target price of $21 for US stocks and HKD 54 for Hong Kong stocks, based on a forecasted 2025 P/E ratio of 17 times.