Home Capital Broker's Calls

RHB upgrades APAC Realty to 'buy' despite 'opportunistic' offer, 17% ytd plunge

Jovi Ho
Jovi Ho6/23/2022 10:46 AM GMT+08  • 3 min read
RHB upgrades APAC Realty to 'buy' despite 'opportunistic' offer, 17% ytd plunge
Following the April 25 announcement, shares in APAC Realty plunged from some 80.5 cents to 66 cents by the end of the week. Photo: Albert Chua/The Edge Singapore
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

APAC Realty’s share price may have fallen 17% ytd due to a lowball offer by Morgan Stanley Private Equity (MSPE), but Singapore’s property market will remain resilient, says RHB Group Research analyst Vijay Natarajan.

“We see value emerging at APAC — the stock is trading at 9x FY2022F P/E, with a handsome 8% yield offering downside support,” he writes.

In a June 23 note, Natarajan is upgrading APAC Realty to “buy” from “neutral”, with an unchanged target price of 75 cents, which implies a 25% upside.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now