SCGlobal - SC Global raised to Neutral by Nomura; $1.77 target

Stock Name: SCGlobal
Company Name: SC GLOBAL DEVELOPMENTS LTD
Research House: Nomura

Nomura upgrades SC Global (D2S.SG) to Neutral from Reduce, lifts target price to $1.77 from $1.52 after increasing NAV estimate to reflect higher sales, selling price assumptions, says Dow Jones.



Nomura notes high-end developer typically prices projects at significant premium to other developments in vicinity, often setting record prices in those areas.



“The flip side, however, is that such a strategy typically results in very slow sales in terms of volume, in our view. This weighs on the balance sheet and cash flows,” says research house.



Shares +1.9% at $1.58.