First Shanghai: Maintains a "buy" rating on Beike-W (02423.HK) with a target price of 60 Hong Kong dollars.

According to the Wise Financial News APP, First Shanghai Securities has released a research report stating that it still has confidence in Beike-W (02423, BEKE.US) due to the steady development of its "integrated" business and the increase in industry penetration rate, as well as the consolidation of its "three-wing" business to enhance the company's resilience against the post-real estate cycle. It is predicted that the company's adjusted net profit for the next three years will be 5.76 billion, 7.68 billion, and 9.67 billion yuan respectively. Giving a 16 times PE ratio for 2026 and adding the company's general cash holdings, the target price is set at 60.0 Hong Kong dollars / 22.8 US dollars, maintaining a buy rating.