SINGAPORE (March 10): CIMB is upgrading Wing Tai Holdings to “add” with a higher target price of $2.05 on the back of what could be an earnings recovery in FY18.

In a Thursday report, CIMB says earnings are likely to trough in FY17 and resume its upwards trajectory in FY18.

This is expected to be led by an improvement in the local luxury residential market, bigger development profits in China and Malaysia as well as hogher contributions from retail operations.

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