CICC: Raises target price of Sunac Services (06820.HK) to 1.06 Hong Kong dollars, rated "outperform industry"

According to the Securities Times APP, Zhongjin released a research report stating that it maintains its forecast for the net profit attributable to shareholders of Friends Times (06820.HK), with the current stock price corresponding to P/E ratios of 13 and 11 for the years 2025 and 2026 respectively. Considering the potential of the company's high DAU products and the upward shift in industry valuations, the target price has been raised by 71% to 1.06 Hong Kong dollars, corresponding to target P/E ratios of 15 and 12.5 for the years 2025 and 2026 respectively, with an upside of 13%. The rating of "outperforming the industry" is maintained. The company expects to achieve revenue of 600-650 million yuan in the first half of 2025, with a year-on-year growth of 14%-24%; profits during the period are expected to be 38-44 million yuan, turning losses into profits year-on-year. The performance forecast meets the bank's expectations.