Citi has released a research note highlighting that BEKE-W (02423) delivered better-than-expected second-quarter profit margins, underscoring favorable operating leverage and the profitability of its platform model. As a result, the bank has raised its target price from HK$73.6 to HK$75.4, while maintaining a "Buy" rating.

The brokerage has also lifted its core earnings forecast for 2026 to RMB 8.3 billion, with third-quarter projections set at RMB 1.7 billion, reflecting the robust second-quarter performance. Citi further reiterates the company as a top pick within its coverage.