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Rex International gets a 'buy' following 'record-breaking' profits for FY2021

Amala Balakrishner
Amala Balakrishner3/8/2022 04:18 PM GMT+08  • 4 min read
Rex International gets a 'buy' following 'record-breaking' profits for FY2021
UOBKayHian is maintaining its “buy” call on Rex International, at a revised target price of 58 cents.
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Rex International Holding’s “record-breaking” profits for FY2021 ended Dec 31 2021 has pushed UOBKayHian (UOBKH)'s Llelleythan Tan to maintain his “buy” call on the counter, at a revised target price of 58 cents.

This is up 12 cents from his previous 46 cents target, indicates Tan in a Mar 8 note.

The higher target price is based on 1.0x FY2022 Re-valued Net Asset Value, he adds.

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