Goldman Sachs: Seashell-W (02423)'s overall profit for the second quarter beat expectations and raised the target price to HK$63

The Zhitong Finance App learned that Goldman Sachs released a research report stating that it will raise the 12-month target price of Shell-W (02423) from HK$58 to HK$63, and raise the US stock (BEKE.US) from $22 to $24. Based on the 2027 non-GAAP net profit forecast, the price-earnings ratio of 20 times will remain unchanged, maintaining a “buy” rating. Goldman Sachs published a report indicating that Shell's second-quarter results beat expectations overall in terms of profitability. This was another quarter that validated its investment arguments. In particular, it showed the company's increased focus on operational efficiency to unleash profitability. Due to better-than-expected gross margin and operating expenses control, the bank raised its 2026-2028 earnings forecasts per share by 12%, 7% and 4%.