KGI Research analyst Joel Ng has upgraded alternative investment firm Uni-Asia Group to “outperform” as Ng deems valuations for the group to be “attractive” amid the bulk carrier upcycle and resilient property markets in Japan and Hong Kong.
On that, Ng has also upped his target price estimate on the counter to 91 cents from 54 cents previously, based on sum-of-the-parts (SOTP) valuations.
To Ng, Uni-Asia Group could see “brighter days ahead” in 2021 after a “challenging” year in 2020, which saw a net loss of US$7.5 million ($10.0 million) in the FY2020 ended December.
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)