Goldman Sachs: Beike's second-quarter performance is better than expected, and the stock price is expected to react positively

GoldenOctober2024

2024-08-13 03:40:23

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Jinshi Data News on August 13th, Goldman Sachs released a report stating that Ke (02423.HK) second-quarter performance exceeded expectations, and the stock price is expected to react positively. The report pointed out that Ke’s second-quarter revenue and contribution profit in all divisions were higher than the bank’s and market expectations. The bank looks forward to hearing more about the management’s outlook on total transaction volume and revenue for the third quarter during the performance conference call, and currently tends to be similar to the previous quarter’s outlook, which is relatively conservative and may be slightly weak against the background of July’s housing transaction data. Goldman Sachs gives Ke a buy rating, with a target price of $21 for US stocks and HK$54 for Hong Kong stocks, based on a forecasted 2025 P/E ratio of 17 times.

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