Movement Alert|BEKE-W Intraday Rise 5.82% in Regular Trading, buybacks and higher target price support sentiment

Market Focus
Nov 05

On November 5, BEKE-W rose 5.82% in regular trading, with the stock trading at HK$50.2 and turnover of HK$207 million.

The move was accompanied by continued share repurchases and a fresh target price increase from a major investment bank. Recent disclosures showed the company had been buying back shares in the US market repeatedly, including about 428,922 shares for roughly US$2.50 million on October 14, following several similar buybacks in early October. Separately, on November 4, the bank raised its Hong Kong target price to HK$65 from HK$59 and maintained an overweight rating, citing expected profit support from improving existing-home transactions, rental services expansion, home renovation growth, and store cost optimization. The company also said its board will meet on November 16 to review third-quarter unaudited results.

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