广州富力地产 Guangzhou R&F Properties (2777.HK)

Citigroup 061214 pdf

Buy: Pullbacks Present Buying Opportunities

Maintain Buy/Low Risk (1L) — Recent press reports ( Oriental Daily) on litigation
involving a Beijing subsidiary of R&F have led to pullbacks in the share price.
Management issued an official announcement clarifying that one of the claims
has previously been dismissed by a final decision of the High Court, while the
other is not material to R&F's operations. R&F remains one of our top picks;
target price HK$17.80.

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