DBS Group Research analysts Chung Wei Le and Derek Tan have initiated “buy” on The Straits Trading Company (STC) with a target price of $3.50.

The target price represents a 50% upside on the company’s last closed price of $2.33 on Feb 3.

To Chung and Tan, there is “compelling value” in the company with it trading at just 0.6 times price-to net asset value (P/NAV), and at an even “steeper discount to its realisable value”.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook