2020-09-27

Investment Banks Say Buy Buy Buy Evergrande

乐居财经: 六大投行力挺恒大:降负债超预期 目标价23港元
Let's take a look at the views of these top big players:

Deutsche Bank: Evergrande’s large, high-quality land bank and strong execution will ensure that it completes its 800 billion internal control sales target. It is expected that at least half of the 130 billion war investment will continue to cooperate. This adjustment brings a good opportunity to increase its holdings.

Lyon: Evergrande has formulated a clear three-year debt reduction plan. Coupled with the separation and financing of properties and automobiles, it is believed that the effect of debt reduction will far exceed market expectations. The stock price adjustment has brought investors a good opportunity to buy bottom.

JPMorgan Chase: The market has overreacted to the rumors. It is expected that Evergrande will reach a consensus with strategic investors for an extension. The current valuation is very attractive.

DBS: The sharp correction in the stock price is mainly due to short selling. Evergrande’s strong sales performance, coupled with the potential benefit of renegotiation with strategic investment, will trigger short covering and a sharp rebound in the stock price.

Galaxy Lianchang: The separation and listing of Evergrande properties and automobiles will drive the net debt ratio to drop by 50%. Coupled with strict control of land acquisition, it is expected that Evergrande's net debt ratio will drop significantly below 100% in 2021.

Huatai Securities: Evergrande’s strong sales and collection performance, the spin-off and listing of automobiles and properties are expected to bring about 50 billion cash flow, and the financial status will be further protected.

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