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This property stock remains a good proxy to the residential upcycle

Michelle Zhu
Michelle Zhu11/10/2017 12:30 PM GMT+08  • 2 min read
This property stock remains a good proxy to the residential upcycle
SINGAPORE (Nov 10): Phillip Capital is maintaining its “buy” call on Chip Eng Seng while raising its target price to $1.21 after incorporating the construction business as well as a narrower discount to RNAV to 40% from 50%, in view of the current upc
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SINGAPORE (Nov 10): Phillip Capital is maintaining its “buy” call on Chip Eng Seng while raising its target price to $1.21 after incorporating the construction business as well as a narrower discount to RNAV to 40% from 50%, in view of the current upcycle in the property market.

This comes after the property and construction group last week reported a more-than-doubling of 3Q17 earnings to $14 million, on the back of higher revenue driven by three of its Singapore residential projects including recognition of revenue from Grandeur Park and Fulcrum.


See: Chip Eng Seng's 3Q earnings more than double to $14 mil

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