Stock Name: Perennial Hldgs
Company Name: PERENNIAL REAL ESTATE HLDGSLTD
Company Name: PERENNIAL REAL ESTATE HLDGSLTD
| Research House: Phillip Securities | Price Call: BUY | Target Price: 1.28 |
SINGAPORE (Feb 4): Phillip Securities Research has initiated coverage on Perennial Real Estate Holdings (PREH) with a "buy" and target price of $1.28, after it recently completed its reverse takeover of St James Holding.
Analyst Wong Yong Kai believes that PREH is under-appreciated by the market, and perhaps overly-penalised for its exposure to Chinese properties. Its Chinese portfolio comprises majority interests in development properties in Beijing, Chengdu, Xi'an and Zhuhai, as well as completed properties in Shenyang, Foshan and Chengdu.
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