UPDATE: Citigroup Raises PT to $32.40 on Soufun Holdings Following Q4 Beat

Citigroup maintained Soufun Holdings SFUN with a Buy rating and raised the price target from $31.00 to $32.40. Citigroup noted, "Clear 4Q top-, middle- and bottom-line beat vs Citi/Street, thanks to: 1) strong SF Card performance with deeper penetration beyond BJ&SH to tier 2&3 cities; 2) rebound of underlying property market; 3) improved op margin on operational gearing and lower-than-expected bad debt. Strategic position and longer-term growth story underwritten by good progress around mobile apps/services innovation. Forecasts changed and TP raised to $32.4." Soufun Holdings closed at $26.14 on Friday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Analyst ColorPrice TargetAnalyst RatingsCitigroup
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!