“We used a target P/B (price-to-book) multiple of 0.6x which is in line with Centurion’s past five-year average P/B of 0.61x, which we believe is fair. Currently, it trades at 0.44x P/B which is >1.5SD below its five-year average.
UOB Kay Hian (UOBKH) is maintaining its ‘buy’ call on Centurion Corp but at a revised target price of 43 cents.
This is 1.5 cents lower than its previous 44.5 cent call and is believed to give the counter a 28.4% upside from its 34 cent price, analyst Adrian Loh writes in an Aug 18 note.
