Ling also expects the rising average selling price (ASP) trend to moderate, and said that while the company’s ASP continues to sky-rocket on strong demand and tight supply due to the Covid-19 pandemic, she expects the ASP trend to stabilise in FY2021 and decline in FY2022, though demand is still expected to be firm.
DBS Group Research’s Ling Lee Keng has downgraded her rating on Riverstone to “hold” and lowered her target price to $2.03, down from her previous figure of $2.76.
She believes Riverstone Holdings‘ steep share price increase is ”nearing its end”, especially with more positive news of Covid-19 vaccines coming onstream.
