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Analysts bullish on PropNex as 1H20 results 'exceeds expectations'

Felicia Tan
Felicia Tan8/19/2020 4:33 PM GMT+08  • 3 min read
Analysts bullish on PropNex as 1H20 results 'exceeds expectations'
The analysts have also raised their target prices and earnings estimates for FY20.
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Analysts from CGS-CIMB Research, PhillipCapital, and UOB Kay Hian Research are overall bullish on PropNex following a 160.2% y-o-y surge in the real estate agency’s 1H20 earnings to $14.8 million.

See: PropNex embraces digitalisation, reports 160% surge in 1H earnings to $14.8 mil

On a quarterly basis, 2Q20 earnings came in at $7.3 million, 96.1% higher than $3.7 million last year, with revenue increasing by 15.0% y-o-y to $105.9 million.

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