Stock Name: Sp Land
Company Name: SINGAPORE LAND LIMITED
Research House: CIMB
Company Name: SINGAPORE LAND LIMITED
Research House: CIMB
CIMB upgrades Singapore Land (S30.SG) to Outperform from Neutral, raises target price to $8.54 from $7.28 after increasing FY10-12 EPS estimates by 8%-16% to reflect stronger revenue contributions from property group’s hotels, residential project The Trizon.
Tips company as beneficiary of improving Singapore office sector; “with the strengthening office market, management expects demand for office space to improve.”
Tips company as beneficiary of improving Singapore office sector; “with the strengthening office market, management expects demand for office space to improve.”
Adds, valuations not demanding with stock trading at 29% discount to RNAV estimate.
Shares +0.7% at $7.22.
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