UPDATE: Goldman Sachs Upgrades KE Holdings (BEKE) to Buy
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Goldman Sachs analyst Elsie Cheng upgraded KE Holdings (NYSE: BEKE) from Neutral to Buy with a price target of $69.00.
The analyst comments "We believe the current regulatory environment of the housing industry in China has limited impact to BEKE’s operations, and is also unlikely to derail the long-term value-add of the company as a leading platform for real estate transactions. We remain optimistic on Beike’s tech-driven operational know-how in secondary housing transactions to drive continued efficiency gains at its network stores, as well as its ability to deliver higher value-add to developers amid a tightening property financing regulatory environment."
Shares of KE Holdings closed at $56.10 yesterday.
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