KE Holdings price target raised to $30 from $28 at Barclays

Barclays analyst Jiong Shao raised the firm’s price target on KE Holdings to $30 from $28 and keeps an Overweight rating on the shares. The analyst cites the company’s Q1 earnings beat and guidance raise while noting that its two new businesses – home renovation and rental – have again shown strong progress. While both existing homes and new homes saw y/y declines in gross transaction value as expected, KE Holdings’ management commented that existing home transaction volume in April and the first three weeks of May already were up double digits vs. last year, the firm added.