BEKE 3Q25 Results: Housing Market Could Remain Challenging into FY26
What’s new: KE Holdings’ reported 3Q25 revs that were in line with consensus and our expectations. Visibility could remain limited in 4Q25 and into FY26, and any signs of recovery would be dependent on future policy rollouts. We lower our PT from US$26 to US$20 on lowered outlook. Our updated PT of US$20 implies 22.3x FY26E P/E. We maintain our BUY rating.Analysts:
Jin Yoon
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.