SINGAPORE (July 12): Deutsche Markets Research has updated Wing Tai Holdings to "purchase", with an objective cost of $1.90. This comes as the exploration house calls the stock a "solid quality suggestion" in a report dated Monday.
The re-rating takes after Wing Tai's offer of its half stake in Nouvel 18 to property designer City Developments for $411 million a week ago with a suggested cost of $2,619psf. This speaks to a 16.4% upside from the examination house's expected clearing cost of $2,250psf.
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