Zacks Investment Research downgraded shares of IFM INVEST-ADS (CTC) from NEUTRAL to UNDERPERFORM on August 19, 2013, with a target price of $2.30.
IFM Investments Limited is a comprehensive real estate services provider with a network of real estate offices and the exclusive franchisor for the CENTURY 21(R) brand in China. Century 21 China primarily focuses on China's fast-growing and highly fragmented secondary real estate market, providing company-owned brokerage services, franchise services and mortgage management services. Through its brokerage service business, it participates in sales and leasing transactions primarily with respect to middle to high grade residential properties in the secondary real estate market. The Company's mortgage management services include advisory services in connection with the selection and procurement of mortgage products offered by commercial banks. . The Company's franchise service business grants regional franchise rights for the CENTURY 21 brand to regional sub-franchisors in China who, in turn, open their own sales offices or grant third parties the right to open sales offices within their
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