Yanlord Land price target cut 19.4% to 87 cents by Citi

Stock Name: Yanlord Land
Company Name: YANLORD LAND GROUP LIMITED

Research House: Citigroup

Price Call: HOLD

Target Price: 0.87

SINGAPORE (Feb 27): Citigroup has cut its price target for Yanlord Land to 87 cents from $1.08, pegging it at a 50% discount to its projected 2015 book value of $1.75 a share instead of a 40% discount to its previous net asset value estimate of $1.80 a share.

"The increase in NAV discount is due to the higher risk profile of Yanlord together with its poor execution," Citi analysts Ken Yeung and Oscar Choi wrote in a note.