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KE Holdings downgraded to Neutral from Buy at UBS

UBS downgraded KE Holdings (BEKE) to Neutral from Buy with a price target of $19, down from $22.10. The firm cut estimates through 2027 to reflect recent weakness in the physical market and KE’s agent network optimization. Given the reduced expectations, the stock’s risk/reward is less attractive, the analyst tells investors in a research note.

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