Analysts from CGS-CIMB Research and OCBC Investment Research have maintained “buy” on UOL Limited with higher target prices on the group’s diversified portfolio, healthy balance sheet, as well as its ability to embark on redevelopment projects and asset enhancement initiatives (AEIs).

The group, on Feb 26, reported earnings of $13.1 million for the FY2020 ended December, representing a 97% plunge y-o-y. Core earnings per share (EPS) for the 2HFY2020 and FY2020 of 18.5 and 30.8 cents came in line with CGS-CIMB analyst Lock Mun Yee’s forecasts, while FY2020 core PATMI, which fell 17.2% y-o-y to $259.8 million, stood above the OCBC research team’s estimates for the period.

Lock has increased her target price estimate to $7.91 from $7.60 previously as she pegs a higher target price estimate for UOB, which has a controlling interest in the company.

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