CS raises China Res Land (HKG:1109) target price to $19


Credit Suisse stated in its research report that China Resources Land Limited (HKG:1109) underperformed its peer year-to-date but the company's key projects are attracting strong demand. The brokerage said that with more sellable resources in the second half of 2012 than that in the first half, it expected the company's July sales to be even higher than May’s and expected the company to exceed its full-year contracted sales target of RMB40 billion (up 11% on year).

The brokerage maintained Outperform rating on the company, but raised its target price to HK$19.



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