SFUN: Adjusting Estimates to Reflect Changes in its Business; Maintain BUY
SFUN will report 1Q17 results before the U.S. markets open on Tuesday, June 20, 2017 with an 8am EST conference call. We believe consensus revenue at $124.7M is too aggressive, as it does not consider the recent changes in the company’s business. With the winding down of its agency business and resuming its focus on listing and marketing services, we expect SFUN to report revenue closer to our prediction of $104.0M in 1Q17. Also, as a result of such changes, we believe the company’s margin is also going to improve significantly in 2017 and 2018. We maintain our Buy rating on the stock but lower our price target to $4.50 from $9.00.
T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.
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.