KE Holdings price target lowered to $25 from $33 at Barclays

Barclays lowered the firm’s price target on KE Holdings (BEKE) to $25 from $33 and keeps an Overweight rating on the shares. The firm says its latest channel checks suggest China’s weakening property market since the spring has persisted and in some cases deteriorated further. The Chinese government has not issued rescue policies this year to revitalize its ailing property market, the analyst tells investors in a research note. Barclays reduced Q3 and beyond estimates for KE, now forecasting quarter-over-quarter declines of 10%-15% for both new and existing homes in Q3.