HDBSVR maintains Buy on YTL Land, lower target price

Hwang DBS Vickers Research is maintaining its Buy call on YTL Land Bhd at 99 sen but at a lower target price of RM1.80 from RM2.40.

It said on Tuesday, Sept 12 YTL Land is transforming into a regional developer post-asset injection while the shares are more attractive now.

“Subscribe for ICULS only for long-term,” it said.

HDBSVR said Sentul is looking increasingly appealing as the future Northern KL transport hub, with new land price benchmark of RM600 psf.

“Maintain BUY, cut TP to RM1.80 (from RM2.40) based on 30% discount to RNAV of RM2.57, factoring in higher market risk premium,” it added.

Written by theedgemalaysia.com