“We think that SLB deserves a premium to the sector average valuation given its large landbank, first mover advantage from acquiring assets early as well as its exposure to China,” says analyst Eing Kar Mei in a report on Friday.
SINGAPORE (June 1): SAC Advisors has initiated coverage on SLB Development, the property developer which was spun off from construction company Lian Beng Group, with a “buy” call and a target price of 28 cents.
The target price represents an upside of more than 33% from SLB’s current trading price of 21 cents as at 10.54am.
