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Why this less fancied property developer could soon find favour

Stanislaus Jude Chan
Stanislaus Jude Chan11/7/2017 12:29 PM GMT+08  • 3 min read
Why this less fancied property developer could soon find favour
SINGAPORE (Nov 7): DBS Group Research says it sees a buying opportunity for Singapore-based integrated real estate developer Chip Eng Seng Corporation (CES) ahead of the upcoming property upturn.
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SINGAPORE (Nov 7): DBS Group Research says it sees a buying opportunity for Singapore-based integrated real estate developer Chip Eng Seng Corporation (CES) ahead of the upcoming property upturn.

“A largely uncovered stock, we like CES for its strong earnings visibility and the potential to unlock its undervalued hotel portfolio,” says DBS lead analyst Carmen Tay in a Monday report.

DBS is keeping Chip Eng Seng at “buy” with an unchanged target price of $1.18, representing a 20% upside from its current trading price.

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