Maybank Investment Bank Research has kept its earnings forecasts on Sime Darby Property, but raised its target price to 75 sen on a higher 0.5 times price-book value.
KUALA LUMPUR: Sime Darby Property Bhd
may surprise on the upside in 2021 as its kitchen-sinking exercise in 2020 puts it operationally on cleaner ground, says Maybank Investment Bank Research.
“Its new engine of growth i.e. industrial properties should benefit from rising e-commerce activities while the bread-and-butter township projects will continue to form a stable earnings foundation to the property company, ” it added in a report in which it has has upgraded the stock to a “buy”.
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