DBS Group Research analysts Woon Bing Yong and Ling Lee Keng have kept “hold” on Sunpower Group with a higher target price of 70 cents from 68 cents previously.

The increase in target price estimate was made to reflect the better-than-expected topline growth for its green investments (GI) segment, write Woon and Ling in an Aug 16 report.

“Sunpower is currently trading near its price-to-book (P/B) mean of 1.39 times, which seems fair against 10.3% return on equity (ROE) for FY2022,” they add.

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