Goldman Sachs: Raises SEAZEN (01030) target price to HK$2.25, maintains "Neutral" rating.

Goldman Sachs released a research report stating that it has lowered its core profit forecast for SEAZEN (01030) by an average of 19% from this year to 2027, and revenue forecast by an average of 5%. This reflects a 9% decrease in pre-sales forecast, a decrease in profits from joint ventures, and an increase in effective corporate income tax rates from last year's trend. The bank, based on the company's lower-than-expected net debt levels last year, has raised its forecast of net asset value per share to 4.5 yuan by the end of this year. Based on a 50% discount, the target price for the stock has been raised from HK$2.15 to HK$2.25, maintaining a "neutral" rating.