Stock Name: Ying Li
Company Name: YING LI INTL REAL ESTATE LTD
Company Name: YING LI INTL REAL ESTATE LTD
| Research House: DBS Vickers | Price Call: BUY | Target Price: 0.325 |
Shares of Singapore-listed Chinese property developer Ying Li International Real Estate surged as much as 12% to a six-month high after stockbroker DBS Vickers issued a bullish report on the firm, reported Reuters.
By 10:41 a.m. on Friday, Ying Li shares were 9.2% higher at $0.355 with 44.4 million shares traded. This was 4.3 times its average daily volume over the last five sessions.
The completion of two of Ying Li’s projects in the western Chinese city of Chongqing — the International Financial Centre shopping mall and its Da Ping mixed development, will boost property sales and rental income significantly in 2012 and 2013, DBS said in a report.
By 10:41 a.m. on Friday, Ying Li shares were 9.2% higher at $0.355 with 44.4 million shares traded. This was 4.3 times its average daily volume over the last five sessions.
The completion of two of Ying Li’s projects in the western Chinese city of Chongqing — the International Financial Centre shopping mall and its Da Ping mixed development, will boost property sales and rental income significantly in 2012 and 2013, DBS said in a report.
Ying Li offers a niche exposure to Chongqing and an expected large revaluation gain on the International Financial Centre will provide catalysts for the stock to re-rate, the brokerage added.
It has a buy rating with a target price of $0.325.
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