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Country Garden Services downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs analyst Wang Yi downgraded Country Garden Services to Neutral from Buy with a price target of HK$8.90, down from HK$25.70, after having cut EPS estimates by 25%-37% in 2023-25 to reflect more challenging project delivery, as well as slower project addition through third-party and M&A and downward pressure on margins.

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