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DBS VICKERS |
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Yangzijiang Shipbuilding (Holdings) (YZJSGD SP) Recent Concerns Overblown – Near-term Order Wins May Take Centre Stage
We recently met with YZJ’s management for an update on the company’s operations and commentary regarding its chairman. In our view, the latter is a non-event as it does not involve the company or its funds, while the mid-term shipbuilding outlook appears positive. Its inexpensive valuation of 0.56x P/B (-2SD below 5-year average) and potential near-term newsflow on order wins has led us to upgrade YZJ to a BUY with a P/B-based price target of S$1.46.
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UOL Group (UOL SP) : BUY
First believers of the Greater Southern Waterfront • UOL’s Avenue South Residences sold 276 units - 92% of 300 units that were launched or 26% of total units • Possibly the best-selling project during any launch weekend YTD • Buyers mostly Singaporeans with small units the most sought after, implying investment demand could be returning • UOL will be marketing the project overseas soon
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RHB RESEARCH |
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Avi-Tech Electronics (AVIT SP)
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Check out our compilation of Target Prices
