Guotai Junan: Beike-W (02423.HK) is rated as "buy" with a fair value of HK$66.85 per share.

According to the Wisdom Financial APP, Guotaihaitong released a research report stating that it has given Beike-W (02423.HK) a "buy" rating. The bank expects the company's adjusted net profit for 2025-2027 to be 5.719 billion, 6.244 billion, and 6.995 billion yuan (net profit attributable to the parent company will be 3.832 billion, 4.153 billion, and 4.773 billion yuan respectively). The bank gives the company a 38 times PE valuation for 2025, with a corresponding fair value of 60.83 yuan, equivalent to 66.85 Hong Kong dollars per share. The company is actively developing non-real estate businesses to cope with cyclical risks, intensifying efforts to reduce fees and improve efficiency to adopt a defensive stance, and increasing shareholder returns to enhance investment value.