The higher target price is based on a 45% discount to the developer’s revised net asset value (RNAV).
On the back of Bukit Sembawang’s stellar performance in the FY2020/2021 ended March, DBS Group Research analysts Woon Bing Yong and Derek Tan are keeping “buy” on the counter with a higher target price of $5.92 from $5.44 previously.
The brokerage is the only house to have coverage on the counter.
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