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<Research>CMBI Cuts KE Holdings TP to USD20.7 w/ Rating Kept Buy
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BEKE-W (02423.HK)'s 3Q25 revenue grew by 2.1% YoY to RMB23.1 billion, in line with market expectations, while its non-GAAP net profit dropped by 28% YoY to RMB1.3 billion, but still 5% higher than market forecasts, according to a report from CMBI. Despite the ongoing unfavorable industry environment, BEKE-W managed to expand its core housing transaction business market share and improve operational efficiency. CMBI expects enhanced profitability in the company's home renovation and housing rental businesses to power the recovery of its non-GAAP net profit in 2026. CMBI cut its target price for KE Holdings (BEKE.US) from USD22.6 to USD20.7, with a Buy rating remaining in place. AAStocks Financial News |
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