In a Friday report, analyst Derrick Heng says the group’s cautious land acquisition has led to land-bank depletion and poor earnings visibility, hence leading to an “unexciting performance” over the latest reporting period.
SINGAPORE (May 12): Maybank Kim Eng Research continues to rate Wing Tai at “hold” following the release of the property and lifestyle group’s 3Q earnings results on Thursday, while raising its target price on the stock by 5 cents to $1.85 to factor in higher market value of the group’s listed entities, Wing Tai Malaysia and Wing Tai Properties.
(See also: Wing Tai 3Q earnings more than treble to $7.4 mil)
