In a report last Thursday, lead analyst Ling Lee Keng says she sees the counter’s recent share price weakness as an opportunity to accumulate, with valuations currently attractive at 9.5 times forward P/E or -1.5 SD, which is even lower than the 10 times forward P/E when APAC Realty was listed on Sept 17.
SINGAPORE (June 18): DBS Vickers Securities is reiterating its “buy” call on APAC Realty with a lower target price of $1.22 compared to $1.32 previously, after accounting for the group’s partial debt financing for its new office building based on DCF valuation.
The research house retains its P/E peg of 15 times on the group’s FY18F earnings.
