HSBC analyst Albert Tam lowered the firm’s price target on KE Holdings to $21.80 from $23.90 and keeps a Buy rating on the shares. The company reported solid Q4 results with non-GAAP net profit up 10% year-over-year, the analyst tells investors in a research note. The firm believes KE will continue to benefit from the resilient physical market in top-tier cities where it has higher exposure. Its dividend and share buyback initiatives will provide support to its share price performance in the medium term, says HSBC.
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