Shares of KE Holdings Inc. (BEKE), a leading integrated online and offline platform for housing transactions and services, surged 7.65% on Thursday, outperforming the broader market. This rally was primarily driven by a positive analyst recommendation from OCBC.
In a note released on Thursday, analysts at OCBC highlighted KE Holdings as one of the few Chinese property stocks worth holding amid structural challenges in the country's housing market. The analysts cited KE Holdings' strong business model and resilience in the face of industry headwinds as reasons for their recommendation.
OCBC's analysts suggested that investors should take advantage of any share price rebound to switch from indebted property developers to higher-quality names like KE Holdings. They believe that the company's integrated online and offline platform positions it well to navigate the current market conditions and deliver long-term growth.
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