UOL assets marked up on UIC consolidation after a strong but 'unsurprising' 3Q
Michelle Zhu • • 2 min read
SINGAPORE (Nov 13): OCBC Investment Research and Maybank Kim Eng are maintaining their “buy” calls on property developer UOL Group with higher target prices of $9.70 and $9.85 respectively.
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SINGAPORE (Nov 13): OCBC Investment Research and Maybank Kim Eng are maintaining their “buy” calls on property developer UOL Group with higher target prices of $9.70 and $9.85 respectively.
In a Monday note, OCBC says it has updated its valuation model to factor in UOL’s latest 3Q results, where earnings were up sevenfold to $618.1 million on higher revenue as a result of accounting for UIC as a subsidiary following the group’s acquisition of 60 million UIC shares in August this year.
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