The Edge Singapore’s in-house analyst has an intrinsic value of 69 cents for Justco.
UBS, one of the underwriters of JustCo’s IPO, issued a report on June 24, initiating coverage on JustCo with a buy rating and a 12-month price target of $1.18.
“The share price has fallen since listing and we think reflects limited investor familiarity with the flex office model, and execution concerns,” the UBS report says. That could be a bit of an understatement. JustCo’s IPO price was 94 cents, and on June 25, the stock touched an intra-day low of 49.5 cents before closing at 52 cents. The stock ended the week of June 22-26 at 54 cents.
