Valuation remains compelling, says Ng, as GuocoLand “continues to trade at a deep discount to its intrinsic value”. “As a preferred pick in the Singapore mid-cap developer space, the group’s ‘twin engines of growth’ provide a resilient earnings base.”
Local digital brokerage platform uSmart has initiated coverage on Mainboard-listed property developer and investor GuocoLand with a “buy” call and $3.17 target price, which represents an upside of more than 30% against its current traded price.
In a March 30 initiation report, analyst Ng Xin Yang says he expects GuocoLand’s earnings visibility to be supported by contributions from Lentor Modern and Guoco Midtown II, alongside upcoming residential launches.
