Stock Name: Sp Land
Company Name: SINGAPORE LAND LIMITED
Research House: CIMB
The brokerage noted that Singapore Land’s shares were sold down after an earthquake struck Japan, underperforming the broader market.
Company Name: SINGAPORE LAND LIMITED
Research House: CIMB
CIMB Research has raised its target price for property developer Singapore Land (SLND.SI) to $10.22 from $10.18 and kept its outperform rating.
CIMB has raised its core earnings per share estimates for Singapore Land in 2011-2013 by 3-19% to acccount for its recent acquisition of a residential site in Singapore.
CIMB has raised its core earnings per share estimates for Singapore Land in 2011-2013 by 3-19% to acccount for its recent acquisition of a residential site in Singapore.
The brokerage noted that Singapore Land’s shares were sold down after an earthquake struck Japan, underperforming the broader market.
“But with no Japanese exposure at all, we see little reason for the sell-down and believe the selling pressure could have been worsened by the stock’s poor liquidity,” said CIMB in a report.
At 9:33 a.m., shares of Singapore Land were 0.15% higher at $6.49 and have fallen about 12% since the start of the year.
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