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DBS keeps Perennial Real Estate on 'buy' given deep discount to RNAV

PC Lee
PC Lee11/9/2017 12:57 PM GMT+08  • 2 min read
DBS keeps Perennial Real Estate on 'buy' given deep discount to RNAV
SINGAPORE (Nov 9): DBS is maintaining its “buy” rating on Perennial Real Estate Holdings with $1.05 target price given the stock currently trades at 0.5x P/BV, offering upside as it gradually realises its RNAV potential.
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SINGAPORE (Nov 9): DBS is maintaining its “buy” rating on Perennial Real Estate Holdings with $1.05 target price given the stock currently trades at 0.5x P/BV, offering upside as it gradually realises its RNAV potential.

Apart from property, Perennial Real Estate has also built a portfolio of medical and healthcare services to leverage on rising healthcare demand in China and Singapore.

To recap, Perennial Real Estate posted strong 9M17 results with a net profit of $73 million vs $9 million in 9M16, boosted by gains from bargain purchase of UE and gains recognised in 1H17.

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