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SAC Capital maintains 'hold' on PropNex but ups target price to $2

Atiqah Mokhtar
Atiqah Mokhtar8/27/2021 4:55 PM GMT+08  • 2 min read
SAC Capital maintains 'hold' on PropNex but ups target price to $2
The higher TP reflects the strong momentum of the property market that’s expected to continue in the near term.
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SAC Capital analyst Tracy Lim has upped her target price for PropNex from $1.27 to $2 in an August 27 research note.

See also: PropNex announces partnership with Tiger Brokers and SingCapital

Her higher target price is based on a P/E multiple of 13.8 times, which is one standard deviation above FY2021 P/E, reflecting the strong momentum of the property market that’s expected to continue in the near term.

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