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Recent drop in Riverstone's share price presents 'buying opportunity’': DBS

Felicia Tan
Felicia Tan10/5/2021 6:22 PM GMT+08  • 2 min read
Recent drop in Riverstone's share price presents 'buying opportunity’': DBS
The brokerage has lowered the company’s TP to $1.28 to reflect a more ‘normalised environment’.
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DBS Group Research analyst Ling Lee Keng has maintained her “buy” call on Riverstone Holdings, albeit with a lower target price of $1.28 from $1.77 previously.

The new target price is still pegged to Riverstone’s four-year average price-to-earnings (P/E) of 10 times on blended FY2022 and FY2023 earnings to reflect a more “normalised environment”, writes Ling in an Oct 4 report.

See also: Brokers' Digest 967

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