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Citi lifts China Jinmao (00817) to HK$7.1
 Citi Research lifted its target price for China 
Jinmao Group Holdings (00817) to HK$7.1 from HK$5.38 factoring in new lands/faster sales,
and maintained its "buy" rating.
  The research house believes Jinmao's re-rating will continue with powerful sales in
January-2018 (potential new monthly high) and strong management commitment from aggressive
stake-raising (74.38m shares for Rmb289m; average HK$3.8794), on top of its superior 
fundamentals (e.g., 2017 core profit 80% yoy; 50% sales/earnings growth, rich assets,
unique edge on primary land development, etc.).
  Coupled with its prime investment properties with decent rental base and attractive
valuation (49% NAV discount, 8.6x 2018 PER; 6.4x only for development properties; 3.7% 
yield), Citi affirmed the stock its top pick.

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