SINGAPORE (Oct 14): UOB Kay Hian has upgraded real estate agency PropNex to a “buy” call with a higher target price of 56 cents, up 12% from the previous 50 cents.

This is on expectations of a strong rebound for the group in 2H19, on the back of several areas of strength that the group could tap on. 

According to analyst Wong Shueh Ting, PropNex can expect stronger project marketing during the second half of the year, as a result of delayed option to purchase (OTP) transactions overflowing from 1H19. 

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