Stock Name: KepLand
Company Name: KEPPEL LAND LIMITED
UOB KayHian in a July 8 research report says: "Keppel Land will be a key beneficiary of the positive outlook for the office segment (rentals expected to grow 15-20% in 2011) as it derives nearly 31% of its value from the Singapore office portfolio.
"Keppel Land's share price has fallen by 24% from the beginning of the year on concerns of policy overhang on its Singapore and China residential portfolios. At current share price levels, the stock is trading at 1.29x P/B and a steep 33% discount to our RNAV, presenting more room for upside.
"Keppel Land's net gearing as at 1Q11 stood at 0.24x, with a cash position of $1.4 billion. Target price of $4.55 pegged at a 15% discount to its FY2011 RNAV of $5.37 per share, presenting a 27% upside potential from current share price levels. MAINTAIN BUY."
Company Name: KEPPEL LAND LIMITED
| Research House: UOB KayHian | Price Call: BUY | Target Price: 4.55 |
UOB KayHian in a July 8 research report says: "Keppel Land will be a key beneficiary of the positive outlook for the office segment (rentals expected to grow 15-20% in 2011) as it derives nearly 31% of its value from the Singapore office portfolio.
"Keppel Land's share price has fallen by 24% from the beginning of the year on concerns of policy overhang on its Singapore and China residential portfolios. At current share price levels, the stock is trading at 1.29x P/B and a steep 33% discount to our RNAV, presenting more room for upside.
"Keppel Land's net gearing as at 1Q11 stood at 0.24x, with a cash position of $1.4 billion. Target price of $4.55 pegged at a 15% discount to its FY2011 RNAV of $5.37 per share, presenting a 27% upside potential from current share price levels. MAINTAIN BUY."
No comments:
Post a Comment