Stock Name: F & N
Company Name: FRASER AND NEAVE, LIMITED
Research House: Kim Eng
“As of September last year, the group has a war chest of $3 billion in undrawn facilities that it can use to seize opportunities in both the property and F&B segments,” said Kim Eng in a report.
Company Name: FRASER AND NEAVE, LIMITED
Research House: Kim Eng
Kim Eng Securities has raised its target price for Singapore’s food and beverage and property conglomerate Fraser and Neave (F&N) (FRNM.SI) to $8.70 from $8.54 and kept its buy rating.
Kim Eng has raised its target price for F&N to account for higher marked-to-market valuations of its listed investments, and as the firm’s residential projects saw healthy take-up despite the Singapore government’s measures to cool property prices.
Kim Eng has raised its target price for F&N to account for higher marked-to-market valuations of its listed investments, and as the firm’s residential projects saw healthy take-up despite the Singapore government’s measures to cool property prices.
“As of September last year, the group has a war chest of $3 billion in undrawn facilities that it can use to seize opportunities in both the property and F&B segments,” said Kim Eng in a report.
F&N could also see share price catalysts from the potential divestment of a shopping mall in Singapore into its real estate investment trust.
At 10:05 a.m., shares of F&N were 0.16% higher at $6.27, but have fallen about 2% since the start of the year.
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