Goldman Sachs Upgrades E-House (EJ) and Leju (LEJU) to Buy

Goldman Sachs upgraded E-House (China) Holdings Ltd (NYSE: EJ) from Neutral to Buy with a price target of $14.10. Leju (NYSE: LEJU) was upgraded from Neutral to Buy with a price target of $19.10.

Analyst Jacqueline Du said, "Leju and E-house’s share prices corrected by 20%/15% in the past one month, which we believe was due mainly to: 1) the broad pullback of China ADRs, as GS-covered China ADRs dropped by 12% on average; 2) uncertainty over recovery in property market volumes due to volatility and policy impact; our offshore property coverage dropped by 8% in the past month. Leju/EJ’s operations remain sound, in our view, and our outlook is unchanged. With our 12-month target prices of US$19.9/US$14.1 implying 53%/49% upside post correction, we upgrade both Leju/E-house to Buy."

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 $9.45 yesterday.

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