Analysts from CGS-CIMB Research and PhillipCapital are pleased with PropNex after its 1QFY2021 ended March results saw it beating expectations.

CGS-CIMB’s Lock Mun Yee kept her ‘add’ rating for the counter with a higher target price of $1.19 from 88 cents previously. Similarly, PhillipCapital’s Paul Chew kept his ‘buy’ call with a higher target price of $1.36 from $1 previously.

Lock notes that all of PropNex's segments benefitted from the increasingly robust property market, resulting in its PATMI almost doubling to $14.8 million for the 1QFY2021.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook