PropNex's 2024 Earnings May Be Relatively Stable -- Market Talk

Dow Jones03-07

0703 GMT - PropNex's 2024 earnings may be relatively stable, UOB Kay Hian analyst Adrian Loh says in a research note as the brokerage maintains the stock's buy rating. The Singapore-listed real estate agency expects to market almost 16,000 private residential units, excluding executive condominiums, this year, the analyst notes. The company also sees more revenue opportunities in new project launches and the private leasing market, the analyst adds. However, the brokerage cuts its 2024 and 2025 earnings estimates for PropNex by 19% and 20%, respectively, to reflect the lower end of the company's price and volume forecast ranges for 2024, and trims the target price to S$1.04 from S$1.23. Shares are 1.7% higher at S$0.88. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

March 07, 2024 02:03 ET (07:03 GMT)

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The Singapore-listed real estate...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"OYY.SI","symbol_name":"PROPNEX LIMITED","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2417078435","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2417078435","pubTimestamp":1709794980,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0703 GMT - PropNex's 2024 earnings may be relatively stable, UOB Kay Hian analyst Adrian Loh says in a research note as the brokerage maintains the stock's buy rating. 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