DBS Group Research has initiated “buy” on Far East Orchard Limited (FEOR) with a target price of $1.70.

To analysts Chung Wei Le and Derek Tan, the counter, which is currently trading at a trailing 12 months (TTM) price-to-book (P/B) multiple of 0.40 times, which is at a discount to its hospitality peers at 0.81 times.

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