DBS Group Holdings analyst Woon Bing Yong and Derek Tan have reiterated their “buy” recommendation on Tuan Sing Holdings after the company announced the sale of a 13% stake in its indirectly-held associate Gultech on May 2.

DBS Group Holdings is the only brokerage that has coverage on the counter.

The analysts have also upped their target price to 54 cents from 46 cents previously as they deem the sale as Tuan Sing “crystallising hidden gold”.

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