PhillipCapital analyst Vivian Ye has maintained her “buy” call on LHN Limited with a lower target price of 49 cents from 54 cents, citing strong outlook for all business segments and higher demand for co-living and self-storage spaces. 

In a Dec 1 report, Ye notes that LHN’s FY21 results were below expectations. Following this, PhillipCapital has lowered its FY22E PATMI by 16% as it reduces its revenue forecasts for the residential and commercial properties as well as facilities management. 

“We now peg the stock to 7 times FY22E price-to-earnings ratio (P/E), down from 9.5 times FY22E P/E, still a 50% discount to the industry average,” says Ye. 

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