KUALA LUMPUR: CGS-CIMB Equities Research remains positive on Sime Darby Property (SDP) and is maintaining its target price (TP) of 85 sen due to its solid balance sheet and strategic land bank.
It said yesterday its TP of 85 sen is based on 0.6 times financial year 2021 (FY21) price-to-book value (P/BV) (standard deviation from its three-year mean P/BV).
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