In a Tuesday report, analyst Lock Mun Yee underscores the group’s declining share price over recent weeks, in tandem with its property peers yet trading slightly above its long-term average discount trend at its current 34% discount to RNAV.
SINGAPORE (June 13): CGS-CIMB Research is reiterating its “add” call on developer UOL Group with an unchanged target price of $9.65, which is based on a 20% discount to RNAV.
This comes after paying a visit to UOL’s Amber 45 show flat, where CGS-CIMB noted improvement in take-up rates for the project to about 65% presently from 55-60% during the initial May 2018 launch of 139 units.
