Goldman Sachs Removes E-House (China) Holdings Ltd (EJ) from CL-Buy List

March 18, 2014 7:02 AM EDT
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Price: $6.79 --0%

Rating Summary:
    4 Buy, 3 Hold, 0 Sell

Rating Trend: = Flat

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    Up: 6 | Down: 3 | New: 2
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Goldman Sachs removed E-House (China) Holdings Ltd (NYSE: EJ) from its Conviction Buy List but maintained a Buy rating and bumped its price target to $19.47.

Analyst Jacqueline Du cited recent outperformance, with shares up 9% (vs. MSCI China’s -12% and offshore developers -20%) since they added it to their Asia Pacific Conviction List on December 11, 2013. The Buy was maintained given attractive valuation and they continue to see a sizeable online earnings increase in the coming years.

The firm is raising 2014E/15E/16E non-GAAP EPS by 2%/13%/8% post stronger-than- expected 4Q13 results and more detailed financial disclosures on its online business from its recent IPO filing.

For an analyst ratings summary and ratings history on E-House (China) Holdings Ltd click here. For more ratings news on E-House (China) Holdings Ltd click here.

Shares of E-House (China) Holdings Ltd closed at $14.08 yesterday.

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