Consumer Discretionary Feb 18, 2022 06:41 PM (GMT+8) · EqualOcean
On February 18, Piyush mubayi, an analyst at Goldman Sachs, released a report saying that the rating of the shell (BEKE. US) was raised from neutral to buy, and the target price was raised from $17.1 to $26.3. Analysts believe that as China's economic growth gradually recovers in the second half of 2022, shell, as the leader of the real estate brokerage industry, will further enhance the toughness of its online and offline integrated service business, expand market share, and normalize the platform rate and profit margin under a loose policy environment. Analysts pointed out that since the fourth quarter of 2021, the government has issued a series of policies and measures to promote the stable and healthy development of the real estate market, which will help restore market sentiment and provide impetus for the subsequent performance recovery of shell. Analysts believe that based on Shell's reliable performance of increasing market share during the market downturn, the company is expected to achieve month on month growth of revenue and GTV and restore profitability from the second quarter of 2022. Specifically, at the end of 2021, the transaction volume of stock houses remained low, but showed signs of marginal recovery. Analysts believe that thanks to the low turnover rate and high-quality service of shell brokers, the company is expected to maintain an industry-leading position. At the same time, analysts pointed out that the purchase sentiment in the new housing market is still weak, but it is expected that shell will continue to expand its market share with its strong sales capacity, and help developers effectively de convert and realize cash withdrawal.