Agile Real Estate climbed 5%, the target price to 10.5 yuan

The market was rocked by a 4.66%-to-10.34 Hong Kong dollar share price of 9.5 million shares.　　JPMorgan's report said it had downgraded the stock to neutral, but slashed its target price from HK $5.2 to HK $10.5, a slight premium of 1.5% per cent to market prices. JP Morgan, the sale of the Agile Hainan Project is better than expected, and the profit of Accor is susceptible to Hainan project sales, Hainan project will account for 2009 and 2010 of the net profit of 9% and 24% respectively, so adjusted to the company's earnings forecasts.　　Sales of Hainan projects are expected to be strong this year and next, while sales in other regions will increase, which would increase earnings per share in the 2010 fiscal year by 26%. J.P. Morgan explained that the target market rate and the P/E ratio of the real estate were the highest in the mid-sized real estate sector, because the company had almost a net cash position and had been selling well in Hainan and Yu's projects this year.