SINGAPORE (July 7): UOB KayHian is maintaining its “buy” recommendation on Hotung Investment Holdings with a target price of $3.38 given the bullish outlook of Greater China’s tech space.

The management of Hotung Investment has also expressed its confidence in the company by conducting share buybacks at a price range of between $1.72 and $1.90.

In a Wednesday report, analyst Edison Chen said, “We concur with management’s experienced that Hotung Investment is undervalued at 0.5x P/B with around half of its market cap in net cash, despite a consistently profitable portfolio.”

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