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3 developer stocks to snap up as Singapore property sales awaken

Michelle Zhu
Michelle Zhu11/17/2016 11:23 AM GMT+08  • 2 min read
3 developer stocks to snap up as Singapore property sales awaken
SINGAPORE (Nov 17): DBS Group Research is maintaining its view that the Singapore property market remains on a “modest correction path” while highlighting that developers trading at 0.75x P/NAV still remain attractive.
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SINGAPORE (Nov 17): DBS Group Research is maintaining its view that the Singapore property market remains on a “modest correction path” while highlighting that developers trading at 0.75x P/NAV still remain attractive.

The research house’s top “buy” picks are City Developments Limited (CDL), CapitaLand and UOL Group at target prices of $9.90, $7.20 and $3.60 respectively.

In a Wednesday note, analyst Derek Tan underscores these stocks for their diversified earnings streams with strong earnings visibility; strong balance sheets which imply “ample capital to deploy opportunistically”; as well as catalysts from asset-recycling activities.

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