EVERG SERVICES (06666.HK) has accumulated an approximate 19% share drop since June, mainly due to tight liquidity concerns over its parent company EVERGRANDE (03333.HK) and the expiry of IPO lock-up period, reported Nomura.
Nomura considers the market's concerns over the liquidity issues of EVERGRANDE to be overdone as the liquidity condition is already improving. EVERG SERVICES's target price is kept at $18.5 with a Buy rating to reflect Nomura's forecast on several upcoming near-term catalysts, including potential M&A.
Nomura considers the market's concerns over the liquidity issues of EVERGRANDE to be overdone as the liquidity condition is already improving. EVERG SERVICES's target price is kept at $18.5 with a Buy rating to reflect Nomura's forecast on several upcoming near-term catalysts, including potential M&A.