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This stock is the best proxy to a recovering residential market

PC Lee
PC Lee2/15/2017 04:21 PM GMT+08  • 2 min read
This stock is the best proxy to a recovering residential market
SINGAPORE (Feb 15): Deutsche Bank says any lack of government action from Budget 2017 on Feb 20 could provide an attractive entry point for City Developments as some of the outperformance of the stock is attributed to expectations of policy easing.
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SINGAPORE (Feb 15): Deutsche Bank says any lack of government action from Budget 2017 on Feb 20 could provide an attractive entry point for City Developments as some of the outperformance of the stock is attributed to expectations of policy easing.

In a Wednesday report, lead analyst Joy Wang says Deutsche’s analysis confirms the market’s perception of the property group as a proxy for the Singapore real-estate market.

Wang notes that Deutsche’s RNAV estimates have largely remained unchanged over the past decade, with limited downside risk. As such, she does not expect a sharp re-rating of its RNAV estimates due to the underlying physical market. However, she highlights that share prices often move ahead of RNAV revisions.

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