Analyst Donovan Tan keeps his “hold” call on the largest listed real estate agency in Singapore, which he says operates a highly cash-generative business with an asset-light model, allowing it to deliver returns to investors through high dividend payouts.
Analysts are positive on PropNex in the new year, and have raised their target prices for the real estate player in their reports on Jan 22.
OCBC Investment Research (OIR) raises its fair value estimate for PropNex to $1.14 from 96 cents after the company’s ongoing success in the Singapore market in 4Q2024 and no immediate property cooling measures signal.
