Skip to content
Subscriber Only

UBS Analysts Say Evergrande May Tumble in Dramatic Sell Call

  • Bank sets Evergrande’s target price at HK$6 with a sell rating
  • Targeted price is less than half of closing price on Wednesday
Updated on

China Evergrande Group was downgraded to sell by UBS Group AG analysts, who said shares of the world’s most indebted developer may lose more than half their value.

UBS cut its rating on Evergrande from neutral on Jan. 12, according to a research report led by analyst John Lam and seen by Bloomberg. The bank also slashed the 12-month target price to HK$6 from HK$15.20 set in September. The target is 59% lower than Evergrande’s closing price on Wednesday.