Valuation-wise, he notes that Yanlord is trading at FY18F P/E of 4.5 times and P/B of 0.62 times, which is a steep discount to its peers’ weighted averages of 42.3% and 60.9%, respectively. In his view, this deep discount for both P/E and P/B is unwarranted.
SINGAPORE (June 6): OCBC Investment Research is initiating coverage on Yandlord Land Group with a “buy” rating, fair value estimate of $2.24, and FY18F dividend yield of 4.4% which translates into potential total returns of about 36%.
In a Wednesday report, analyst Andy Wong highlights the counter as an “attractively undervalued” one with strong brand equity and exposure to key economic regions.
