In a Thursday report, Ling says she foresees an “adverse financial impact” in 3Q20 owing to weak sales in 2Q20 due to the time lag in revenue recognition.
SINGAPORE (June 11): DBS analyst Ling Lee Keng has maintained her “hold” call on APAC Realty with a target price of 41 cents from 52 cents previously.
The new target price represents a 3% downside from the real estate agency’s share price, and is based on its average forward price-to-earnings ratio (PE ratio) of 19x on its FY21F earnings.
