• Email Us: [email protected]
  • Contact Us: +1 718 874 1545
  • Skip to main content
  • Skip to primary sidebar

Medical Market Report

  • Home
  • All Reports
  • About Us
  • Contact Us

JPMorgan slashes price target for troubled China property giant Evergrande

September 10, 2021 by David Barret Leave a Comment

September 10, 2021

LONDON (Reuters) – Investment bank JPMorgan slashed its price target for China’s debt-hobbled property giant Evergrande Group to HK$2.80 from HK$7.20 on Friday, saying there was likely to be more negative news about its finances.

The bank also cut its recommendation to underweight from overweight.

“We believe the company will continue to see negative news flows on its liquidity risk (refinancing / lawsuits from suppliers / potential bond defaults),” JPMorgan said.

“While we think Evergrande will likely see a soft landing scenario, we think rerating will be unlikely in near future, until we have better clarity of an actual resolution.”

Evergrande, which has around $20 billion worth of international bonds, has seen its share price slump 85% over the last year and rating agencies have issued a flurry of warnings over the last couple of weeks that it could default.

(Reporting by Marc Jones, editing by Huw Jones)

Source Link JPMorgan slashes price target for troubled China property giant Evergrande

David Barret
David Barret

Related posts:

  1. Film shines light on Mexican sweatshops at Venice festival
  2. Equity Monday: Women’s employment drops, as Delta’s drama continues
  3. Microsoft rolls out personalized news feed
  4. Daily Crunch: Hyundai to provide hydrogen fuel cell versions of all commercial vehicles by 2028

Filed Under: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • DNA From Greenland Sled Dogs – Maybe The World’s Oldest Breed – Reveals 1,000 Years Of Arctic History
  • Why Doesn’t Moonrise Shift By The Same Amount Each Night?
  • Moa De-Extinction, Fashionable Chimps, And Robot Surgery – No Human Required
  • “Human”: Powerful New Images Mark The Most Scientifically Accurate “Hyper-Real 3D Models Of Human Species Ever”
  • Did We Accidentally Leave Life On The Moon In 2019 – And Could We Revive It?
  • 1.8 Million Years Ago, Two Extinct Humans Had One Of The Gnarliest Deaths In History
  • “Powerful Image” Of One Of The World’s Rarest Tigers Exposes The Real Danger In Taman Negara
  • Evolution, Domestication, And A Lot Of Very Good Boys: How Wolves Became Dogs
  • Why Do Orcas Have White Spots Near Their Eyes?
  • Tomb Of First King Of Ancient Maya City Discovered In Belize
  • The Real Reason The Tip Of Your Tape Measure Wiggles Like That
  • The “Haunting” Last Message From NASA’s Opportunity Rover, Sent From Inside A Planet-Wide Storm
  • Adorable Video Proves Not All Gorillas Hate The Rain. It Might Even Win One A Mate
  • 5,000-Year-Old Rock Art May Show One Of Ancient Egypt’s First Rulers
  • Alzheimer’s-Linked Protein Levels “20 Times Higher” In Newborn Babies – What Does This Mean?
  • Americans Were Asked If They Thought Civil War Was Coming. The Results Were Unexpected
  • Voyager 1 & 2 Could Be Detected From Almost A Light-Year Away With Our Current Technology
  • Dams Have Nudged Earth’s Poles By Over 1 Meter In The Past 200 Years
  • This Sugar Could Be A Cure For Male Pattern Baldness – And It’s Been In Our Bodies All Along
  • “Cosmic Immigrants”: Daytime Star Seen In 1604 May Be An “Alien Type Ia Supernova”
  • Business
  • Health
  • News
  • Science
  • Technology
  • +1 718 874 1545
  • +91 78878 22626
  • [email protected]
Office Address
Prudour Pvt. Ltd. 420 Lexington Avenue Suite 300 New York City, NY 10170.

Powered by Prudour Network

Copyrights © 2025 · Medical Market Report. All Rights Reserved.

Go to mobile version