China Resources Land (1109.HK) soared 8.7 percent to HK$18.7. after Citi upgraded its price target for the Chinese real estate developer to HK$HK$23.71 because of its newly acquired land bank. China Resources Land trades at a 23 percent discount to Citi's 2008 forecast NAV of HK$22.20, it said in a research note released on Wednesday.