In a Tuesday note, lead analyst Eli Lee says the aggressive rally in property stocks was kindled from long depressed valuations across the sector and rising anticipation of potential removal of curbs ahead.
SINGAPORE (Feb 8): OCBC is maintaining its “buy” call on Wheelock Properties with $2.27 fair value as it believes the property stock is still attractively valued despite the recent rally.
Year to date, Wheelock shares have risen an impressive 16.2%, alongside a 12.3% rally in the sector over the same period.
