KE Holdings (BEKE) Stock: $13.50 Price Target From JPMorgan
May 16th, 2022 17:50 EST
- The shares of KE Holdings (NYSE: BEKE) have received a $13.50 price target from JPMorgan. These are the details.
The shares of KE Holdings (NYSE: BEKE) have received a $13.50 price target from JPMorgan. And JPMorgan analyst Alex Yao upgraded KE Holdings from an “Underweight” rating to a “Neutral” rating while increasing the price target from $7.50.
Yao adjusted the rating on KE Holdings on improving sector sentiment due to more clarity of ADR risks and as policy easing of the housing market gathers steam.
“However, we believe a rebound in Beike’s GTV that is concentrated in 2H22 has been largely priced in, in relation to our house view, whereas COVID-19 presents renewed risks on the timing of a new home market recovery,” wrote Yao in a research note. “At this juncture, we see limited upside risks to our 2022E revenue estimates. Upside risks on Beike include stronger-than-expected housing recovery due to policy loosening and better-than-expected OP margin due either to cost optimization or lower-than-expected loss from the new home renovating/furnishing business; downside risks include protracted lockdown measures dampening real estate market recovery and worse-than-expected provision required for distressed developers.”
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