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Citi ups China SCE Property (01966) to HK$6.06
Citi Research lifted its target price for China 
SCE Property (01966) to HK$6.06 from HK$5.21, and maintained its "buy" rating.
  The research house said its recent meeting with management indicates China SCE has 
pragmatically "equipped" itself with many essential elements of a high-flyer mid-cap, from
a broader sales "skeleton", ample resources, to improving product quality, corporate 
hierarchy and talent, incentive scheme, etc, which are all "good signs" for achieving the
high growth shown by other mid-caps before (e.g. CIFI).
  With visible growth on sales/earnings in 2018-20, SCE's current HK$16.5bn market cap 
looks low, Citi said. It believes China SCE can easily grow its FY2018 contracted sales by
51% yoy to RMB50bn (versus FY2017 RMB33bn, attributable stake 65-70%). 

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