Citi raised its price target for KE Holdings (NYSE:BEKE) to $25.20 from $24.50, while reiterating its Buy rating ahead of the company’s upcoming Q1/23 earnings, scheduled to be released on May 17.
The analysts expect the company’s earnings to be revised upward due to several factors: successful execution of their strategy, changes in the housing market that favor existing home listings, and being well-positioned in the property agency services sector.
The analysts highlighted the growth in new homes and existing homes, with the latter showing significant year-on-year growth. Additionally, they expect revenue from renovation and refurnishing services to contribute positively. The company’s adjusted net profit margin is expected to be strong due to reduced operating expenses.
At CWEB, we are always looking to expand our network of strategic investors and partners. If you're interested in exploring investment opportunities or discussing potential partnerships and serious inquiries. Contact: jacque@cweb.com