That said, Tan has kept her sum of the parts (SOTP) target price unchanged at $1.56.
PhillipCapital analyst Tan Jie Hui has downgraded property developer First Sponsor Group (FSG) to “accumulate” from “buy”, as its recent share run-up has “priced in some positives”.
Over the past two months, the property developer’s share price has appreciated around 8%, with highs of around $1.43 on March 9, April 12 and April 20.
