Stock Name: F & N
Company Name: FRASER AND NEAVE, LIMITED
Research House: Kim Eng
Company Name: FRASER AND NEAVE, LIMITED
Research House: Kim Eng
Kim Eng Securities upgrades Fraser & Neave (F99.SG) to Buy from Hold, raises target price to $6.50 from $4.70 after strong 3Q earnings; says new target price reflects potential surplus from recent landbanking, changes to development ASP assumptions, says Dow Jones.
“While property pre-sales are strong near term drivers, food and beverage continues to be a cash cow with immense potential,” says house. Adds, “key catalysts will come from further streamlining of its businesses, capital recycling and potential spin-off of its hospitality assets.
Stock last down 1.4% to $5.62 vs STI down 0.6%.
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