“We expect contributions from government contracts to remain stable in 3Q20, followed by a mild pickup boosted by Singaporeans going for staycations in 4Q20. We expect recovery to take place in mid-21 and normalcy to return in 2H21," he says.
Slowly but steadily, UOB Kay Hian is expecting a recovery for Far East Hospitality Trust (FEHT). Despite the hospitality sector being the hardest hit by the Covid-19 pandemic with the lack of tourists coming into Singapore, the research house is maintaining its “buy” call on FEHT with an increased target price of 72 cents from 58 cents previously.
In a September 25 report, lead analyst Jonathan Koh is keeping positive on the stock.
