SINGAPORE (Aug 6): DBS Vickers Securities is maintaining its “buy” call on Cityneon Holdings with a lower price target of $1.57 compared to $1.60 previously, after shifting earnings projections to blended FY18F and FY19F earnings instead of FY18F.

The new target price is still based on a P/E valuation peg of 14.4 times, which is at a 20% discount to peers’ average of 18 times P/E.

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