To Chung and Tan, there is “compelling value” in the company with it trading at just 0.6 times price-to net asset value (P/NAV), and at an even “steeper discount to its realisable value”.
DBS Group Research analysts Chung Wei Le and Derek Tan have initiated “buy” on The Straits Trading Company (STC) with a target price of $3.50.
The target price represents a 50% upside on the company’s last closed price of $2.33 on Feb 3.
