Morgan Stanley raises Longfor Group’s target price, maintains Overweight rating, saying its liquidity risks manageable
Morgan Stanley raises Longfor Group’s target price, maintains Overweight rating, saying its liquidity risks manageable

Morgan Stanley raises Longfor Group’s target price, maintains Overweight rating, saying its liquidity risks manageable

 

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Chinese property developer Longfor Group's results for 2023 came broadly in line with expectations, and excluding the impact of fair value changes, more than 60% of the core profit was contributed by the operation and service business, and the full-year operating cash flow reached 3.5 billion, said Morgan Stanley in a research note.

The bank believed that Longfor's liquidity risk would be manageable, saying that the company's net gearing . . .

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