Stock Name: UIC
Company Name: UNITED INDUSTRIAL CORP LTD
DBS Vickers Securities in an Oct 31 research report says: "UIC posted a 9% drop in revenue to $207.7 million as net earnings dipped 14% y-o-y to $47.7 million. Despite higher performance at Singland, which made up c.90% of earnings, the drag came from lower residential development activities with the completion of ongoing projects.
"Contributions from hotels grew y-o-y on higher Revpar in Singapore while the hotel in Tianjin added $5.3 million in revenue and $0.5 million in gross profit. UIC is currently trading at a 25% premium to our RNAV of $2.15 and a 0.94x P/Bk NAV, much higher than Singland's valuations, despite Singland accounting for the bulk 73% of its valuations. Target price of $2.04. MAINTAIN FULLY VALUED."
Company Name: UNITED INDUSTRIAL CORP LTD
| Research House: DBS Vickers | Price Call: SELL | Target Price: 2.04 |
DBS Vickers Securities in an Oct 31 research report says: "UIC posted a 9% drop in revenue to $207.7 million as net earnings dipped 14% y-o-y to $47.7 million. Despite higher performance at Singland, which made up c.90% of earnings, the drag came from lower residential development activities with the completion of ongoing projects.
"Contributions from hotels grew y-o-y on higher Revpar in Singapore while the hotel in Tianjin added $5.3 million in revenue and $0.5 million in gross profit. UIC is currently trading at a 25% premium to our RNAV of $2.15 and a 0.94x P/Bk NAV, much higher than Singland's valuations, despite Singland accounting for the bulk 73% of its valuations. Target price of $2.04. MAINTAIN FULLY VALUED."
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