PETALING JAYA: Although the tie-up with Singapore’s GuocoLand Ltd may yield longer-term benefits for UEM Sunrise Bhd
, CIMB Securities has lowered the stock’s target price (TP) to 86 sen per share from 98 sen previously.
The research house said: “The reduced TP takes into account a moderation in our margin assumptions for some of UEM Sunrise’s projects in Iskandar Puteri as competition intensifies in the vicinity.
