Goldman Sachs Raises Price Target For Ke Holdings (beke)

KE Holdings (NYSE:BEKE) is one of the 10 best real estate services stocks to buy according to hedge funds.

As of the close of play on February 5, consensus sentiment around KE Holdings (NYSE:BEKE) was strongly bullish. The stock had received coverage from 4 analysts, 3 of whom assigned Buy ratings and 1 gave a Hold call. With no Sell rating, it carries a projected median 1-year price target of $21.02, implying almost 14% upside.

On February 3, Timothy Zhao at Goldman Sachs raised his price target on KE Holdings (NYSE:BEKE) from $18.60 to $19. However, the analyst downgraded the stock from Buy to Neutral at the same time, as he sought further visibility into property market stabilization. Zhao still sees the company’s valuation to be fair after a recent rally, but could see more potential following volumetric recovery across secondary home transactions, enhanced profitability from core home transactions, strong rebound in new initiatives revenue, and elevated shareholder returns.

KE Holdings (NYSE:BEKE) provides an integrated online and offline platform for housing transactions, rentals, renovations, and related services across the Chinese market. The business is structured around 5 segments, i.e., Existing Home Transaction Services, New Home Transaction Services, Home Renovation & Furnishing, Home Rental Services, and Emerging & Other Services.

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Disclosure: None. This article is originally published at Insider Monkey.