Jefferies analyst Thomas Chong lowered the firm’s price target on KE Holdings (BEKE) to $26 from $30 and keeps a Buy rating on the shares after the company reported Q4 results. GTV and revenue came in ahead of expectations, while non-GAAP earnings missed due to one-off accrual, says the analyst, who is factoring in “more conservative” net margin assumptions on headcount and incentives to agents.
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