Brokers’ Take: CGS-CIMB Cuts Apac Realty Target Price on Decline in Market Share

The Business Times2022-06-20

CGS-CIMB cut its target price on real estate services provider Apac Realty to S$0.84 from S$0.93 amid a decline in its market share.In a report on Friday (Jun 17), analyst Lock Mun Yee cut her ...

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Comments

CAI_LIM
2022-06-21
CAI_LIM
Thanks for info👍
Bspn
2022-06-20
Bspn
Ok
LEESIMON
2022-06-20
LEESIMON
ok

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It also made a mandatory general offer for the real estate services provider at an offer price of S$0.57 in cash, which closed on Jun 10 with the NHPEA owning, controlling or agreeing to acquire around 64.8 percent of Apac Realty’s shares.Meanwhile, DBS Group Research, it noted that Apac Realty’s first quarter performance was above expectations, although it was in line with the overall property market.The research team expects a muted outlook ahead, amid the rising interest rate environment, a growing risk of the economy slipping into a recession, and a lower number of new launches compared to a year earlier.It maintained its “hold” call and target price of S$0.67 on the counter.Mainboard-listed APAC Realty on Friday posted a 20 percent on-year growth in net profit to S$9 million for its first quarter ended Mar 31, in tandem with an 11.8 percent on-year jump in revenue.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[{"id":9049888773,"gmtCreate":1655774657292,"gmtModify":1676535702395,"author":{"id":"3580856544782635","authorId":"3580856544782635","name":"CAI_LIM","avatar":"https://community-static.tradeup.com/news/251cc1a0f5e83605c7ae6e02f046010c","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"Thanks for info👍","listText":"Thanks for info👍","text":"Thanks for info👍","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9049888773","repostId":1189051210,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9040759701,"gmtCreate":1655707530703,"gmtModify":1676535690427,"author":{"id":"3582502134655895","authorId":"3582502134655895","name":"Bspn","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9040759701","repostId":1189051210,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9040455486,"gmtCreate":1655695414145,"gmtModify":1676535687729,"author":{"id":"3579044609497336","authorId":"3579044609497336","name":"LEESIMON","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":9,"crmLevelSwitch":1},"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9040455486","repostId":1189051210,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":35,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1189051210"}