Bank of America Upgrades KE Holdings to Buy, Citing China Policy Shift and Potential Market Recovery

BofA analyst Miranda Zhuang has upgraded KE Holdings (BEKE) to a Buy rating with a target price of $28, citing the company's leadership in China's property brokerage sector and its potential to outperform the housing market amidst China's policy pivot and anticipated recovery. KE Holdings is expected to grow faster than the housing market due to its focus on the better-quality, existing homes segment, and its increasing market share in both existing and new home sales.