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DBS starts Wing Tai at 'buy' with TP of $2.05

Felicia Tan
Felicia Tan6/27/2022 12:04 PM GMT+08  • 4 min read
DBS starts Wing Tai at 'buy' with TP of $2.05
According to the analysts’ estimates, Wing Tai is currently trading at a P/NAV ratio of 0.44x.
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DBS Group Research analysts Derek Tan and Rachel Tan have initiated “buy” on Wing Tai Holdings with a target price of $2.05.

According to the analysts’ estimates, Wing Tai is currently trading at a P/NAV ratio of 0.44x, which is at -1 standard deviation of its pre-Covid-19 P/NAV ratios. The estimated target price is also based on a 50% discount to the analysts’ RNAV of $4.09, translating into an implied P/NAV ratio of 0.51x.

Wing Tai is a property group with development and investment properties in Singapore, Malaysia, Hong Kong, China, Japan and Australia.

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