Stock Name: Ho Bee
Company Name: HO BEE INVESTMENT LIMITED
Research House: Phillip Securities
Company Name: HO BEE INVESTMENT LIMITED
Research House: Phillip Securities
Phillip Securities downgrades Ho Bee Investment (H13.SG) to Hold from Buy, citing limited upside for shares given no additional sales from housing project launches in near term.
Keeps target price at $1.91; “earnings for the remaining of FY10 will still depend mostly on its sales recognition according to construction progress. While we continue to see support in the luxury residential segment, sales volume is expected to remain low in 4Q 2010.”
Keeps target price at $1.91; “earnings for the remaining of FY10 will still depend mostly on its sales recognition according to construction progress. While we continue to see support in the luxury residential segment, sales volume is expected to remain low in 4Q 2010.”
Adds, developer won't be launching any projects in 4Q10, will resume launches in 1H11.
Shares +0.6% at $1.69.
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