Stock Name: Hersing
Company Name: HERSING CORPORATION LTD
Research House: Phillip Securities
Company Name: HERSING CORPORATION LTD
Research House: Phillip Securities
Phillip Securities starts Hersing Corp. (H28.SG) at Buy with $0.355 target price, says Dow Jones.
Phillip says while Singapore-based provider of real estate brokerage, consultancy services may not be spared fallout from recent government measures to cool housing market, outlook for its remittance and storage businesses appear rosy, backed partly by country’s demand for foreign labour.
“For the storage segment, it may provide a buffer against the general cyclicality of Hersing’s business, as people tend to downgrade or even lose their dwellings during a downturn. Yet, given the inexpensive solution of renting storage space, this could be a cheaper alternative for storing their precious clutter,” says Phillips.
Shares off 1.7% at $0.29.
Phillip says while Singapore-based provider of real estate brokerage, consultancy services may not be spared fallout from recent government measures to cool housing market, outlook for its remittance and storage businesses appear rosy, backed partly by country’s demand for foreign labour.
“For the storage segment, it may provide a buffer against the general cyclicality of Hersing’s business, as people tend to downgrade or even lose their dwellings during a downturn. Yet, given the inexpensive solution of renting storage space, this could be a cheaper alternative for storing their precious clutter,” says Phillips.
Shares off 1.7% at $0.29.
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