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RHB keeps 'buy' call and 91 cents price target on HRnetGroup

The Edge Singapore
The Edge Singapore  • 2 min read
RHB keeps 'buy' call and 91 cents price target on HRnetGroup
Besides compelling valuations, Yeo likes HRnetGroup too for its cash-generative ability and strong net cash of 24 cents per share
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RHB Bank Singapore's Alfie Yeo has kept his "buy" call and 91 cents target price on regional recruitment firm HRnetGroup, following "generally stable" Singapore job market data for the quarter to June.

Yeo maintains his upbeat call on the stock in anticipation of faster GDP growth, which will lead to stronger hiring.

The bank is forecasting Singapore’s GDP growth to increase from 2% this year to 3% in 2024 with a boost from China’s reopening.

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