贝壳：Eyeing on the pace of fundamental recovery post sentiment rebound

M N 24 May 2024 CMB International Global Markets | Equity Research | Company Update Ke Holdings (BEKE US) Eyeing on the pace of fundamental recovery post sentiment rebound Target Price US$22.00 Beike reported (23 May) 1Q24 results: revenue declined 19% YoY to (Previous TP US$23.00) RMB16.4bn, owing to industrywide headwinds, but was 3/1% ahead of our Up/Downside 16.6% forecast/ Bloomberg consensus estimates, aided by stronger-than-expected Current Price US$18.87 revenue growth in new businesses. Non-GAAP ne ...