Stock Name: Boustead Sp
Company Name: BOUSTEAD SINGAPORE LIMITED
Kim Eng Research in a July 18 research report says: "Boustead's share price has been range-bound ever since it was hit by news that a company project in Libya was adversely affected after unrest erupted in the country in February.
"Granted, there was no significant price catalyst so far. But we would argue that the market has not priced in the growth in its property leasing portfolio, following the shift in business strategy by the Real Estate Solutions division, resulting in earnings which are more recurring in nature.
"Boustead remains capable of making strategic acquisitions with its strong net cash position of $185 million, which would serve as a potential catalyst. Sum-of-the-part-based target price of $1.36. BUY"
Company Name: BOUSTEAD SINGAPORE LIMITED
| Research House: Kim Eng | Price Call: BUY | Target Price: 1.36 |
Kim Eng Research in a July 18 research report says: "Boustead's share price has been range-bound ever since it was hit by news that a company project in Libya was adversely affected after unrest erupted in the country in February.
"Granted, there was no significant price catalyst so far. But we would argue that the market has not priced in the growth in its property leasing portfolio, following the shift in business strategy by the Real Estate Solutions division, resulting in earnings which are more recurring in nature.
"Boustead remains capable of making strategic acquisitions with its strong net cash position of $185 million, which would serve as a potential catalyst. Sum-of-the-part-based target price of $1.36. BUY"
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