CGS-CIMB Research lifts the target price for SP Setia from RM1.40 to RM1.82 as it rolls over to end-2022 based on FY23F book value (BV).
KUALA LUMPUR: CGS-CIMB Equities Research is upbeat on SP Setia’s massive land bank to cater to changes in consumer preferences, improving net gearing levels in FY21-23F, and poised to benefit from rising demand for green certified buildings due to its experience.
The research house said on Tuesday investors’ major ESG concerns for SP Setia were green buildings’ cost premium impact on earnings and availability of a green building ecosystem.
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