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Credit Suisse has “outperform” rating on UEM Land, IJM Land
by hlk Wed 15 May 2013, 19:12
Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Wednesday, 15 May 2013 16:49
A + / A - / Reset
KUALA LUMPUR (May 15): Credit Suisse, stating that 70% of
Malaysia’s listed property firms are trading below book value, has
recommended “outperform” rating on UEM LAND HOLDINGS BHD []
and IJM Land Bhd.
It has a target price (TP) of RM4.20 for UEM Land and RM3.40 for IJM
Land. Both stocks are now trading below their TPs.
For an “outperform” rating, it means the stock’s total return is expected
to outperform the relevant benchmark over the next 12 months.
In a report dated yesterday, Credit Suisse noted that the KL Property
index has outperformed the KLCI by 27% year to date and 11% since
the general election.
The report added that of the 83 listed developers, 70% by number are
trading below book value “which could provide an opportunity for
investors, although the book values are not totally comparable”.
Written by Ho Wah Foon of theedgemalaysia.com
Wednesday, 15 May 2013 16:49
A + / A - / Reset
KUALA LUMPUR (May 15): Credit Suisse, stating that 70% of
Malaysia’s listed property firms are trading below book value, has
recommended “outperform” rating on UEM LAND HOLDINGS BHD []
and IJM Land Bhd.
It has a target price (TP) of RM4.20 for UEM Land and RM3.40 for IJM
Land. Both stocks are now trading below their TPs.
For an “outperform” rating, it means the stock’s total return is expected
to outperform the relevant benchmark over the next 12 months.
In a report dated yesterday, Credit Suisse noted that the KL Property
index has outperformed the KLCI by 27% year to date and 11% since
the general election.
The report added that of the 83 listed developers, 70% by number are
trading below book value “which could provide an opportunity for
investors, although the book values are not totally comparable”.
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