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DBS initiates 'buy' on GuocoLand as it looks to benefit from the office market recovery

Felicia Tan
Felicia Tan4/5/2022 6:55 PM GMT+08  • 3 min read
DBS initiates 'buy' on GuocoLand as it looks to benefit from the office market recovery
Guoco Tower. Photo: GuocoLand
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DBS Group Research has started GuocoLand with a “buy” recommendation as it sees the counter as a “multi-bagger play on value unlocking”.

Analysts Derek Tan and Rachel Tan have also given the SGX-listed property developer a target price of $2.30, which is based on a “conservative” 60% discount to its revised net asset value (RNAV) of $5.70.

In their report dated April 5, the analysts see GuocoLand as being a play into future-ready living.

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