KE Holdings (BEKE) PT Lowered to $26 at Jefferies

Jefferies analyst Thomas Chong lowered the price target on KE Holdings (NYSE: BEKE) to $26.00 (from $30.00) while maintaining a Buy rating.

The analyst comments "BEKE reported 4Q results with GTV / revenue came in ahead of expectations while non-GAAP earnings miss due to one-off accrual. Market share gain story is intact with GTV for new home to grow faster than existing home in 1Q. We factor in more conservative net margin assumption on headcount and incentives to agents. AI empowers agents and facilitates home buyers in decision making. We expect it to continue to pursue One Body Three Wings Strategy. Maintain Buy."

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