Equity Research 14 October 2025 | 6:39PM HKT KE Holdings (BEKE) 3Q25 Preview: Likely above consensus on new home GTV, fixed cost reduction and new initiative profitability; Upgraded services aim for share/efficiency gains; Buy | BEKE | 12m Price Target: $21.40 | Price: $18.01 | Upside: 18.8% | | --- | --- | --- | --- | | 2423.HK | 12m Price Target: HK$55.00 | Price: HK$47.22 | Upside: 16.5% | KE Holdings (BEKE/2423.HK) is scheduled to report 3Q25 results in mid-to-late Nov. We forecast above-consensus reven ...