Core Viewpoint - Beike's Q3 performance exceeded market expectations, leading to positive ratings from multiple international and domestic institutions, highlighting the company's effective cost control and growth potential in its home decoration and rental business [1] Group 1: Institutional Ratings - Major international banks such as Goldman Sachs, Morgan Stanley, and Bank of America, along with domestic firms like Zhongtai Securities and CICC, maintain "Buy" or "Overweight" ratings for Beike [1] - Goldman Sachs retains a "Buy" rating, noting that while the real estate market's downturn may pressure transaction volumes, efficiency improvements will mitigate some impacts [1] - Morgan Stanley sets a target price of 52 HKD, while JPMorgan analyst Alex Yao also maintains a "Buy" rating with a target price of 47 HKD [1] Group 2: Financial Performance - Beike's Q3 revenue grew by 2.1% year-on-year to 23.1 billion yuan, aligning with market expectations [1] - Adjusted net profit reached 1.29 billion yuan, surpassing market forecasts, primarily due to effective cost management [1] - CICC expresses optimism about Beike's competitive edge in the one-stop residential service platform and its long-term profitability potential from both core and new business segments [1]
贝壳获机构看好：第三季度业绩超出市场预期，家装租赁业务贡献实质利润