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SLB started at 'buy' as residential property market bottoms

Stanislaus Jude Chan
Stanislaus Jude Chan6/1/2018 11:22 AM GMT+08  • 3 min read
SLB started at 'buy' as residential property market bottoms
SINGAPORE (June 1): SAC Advisors has initiated coverage on SLB Development, the property developer which was spun off from construction company Lian Beng Group, with a “buy” call and a target price of 28 cents.
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SINGAPORE (June 1): SAC Advisors has initiated coverage on SLB Development, the property developer which was spun off from construction company Lian Beng Group, with a “buy” call and a target price of 28 cents.

The target price represents an upside of more than 33% from SLB’s current trading price of 21 cents as at 10.54am.

“We think that SLB deserves a premium to the sector average valuation given its large landbank, first mover advantage from acquiring assets early as well as its exposure to China,” says analyst Eing Kar Mei in a report on Friday.

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