Analyst Adrian Loh of UOB Kay Hian maintained a Buy rating on PropNex Ltd., with a price target of S$1.35.
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Adrian Loh has given his Buy rating due to a combination of factors that highlight PropNex Ltd.’s strong market position and growth potential. The company’s CEO has projected a positive outlook, emphasizing robust transaction volumes in both the private resale and new launch markets, which are expected to drive significant earnings growth in the first half of 2025. Additionally, PropNex’s extensive network of agents positions it well to capitalize on stable transaction volumes in Singapore’s residential markets.
Despite recent adjustments to the Sellers’ Stamp Duty, the company remains confident that these changes will not adversely affect market stability. The anticipated strong financial performance, with a forecasted increase in revenue and net profit, further supports the Buy rating. Moreover, external factors such as the Monetary Authority of Singapore’s capital injection could provide additional momentum, reinforcing the optimistic outlook for PropNex Ltd.
According to TipRanks, Loh is a 5-star analyst with an average return of 16.6% and a 61.11% success rate. Loh covers the Industrials sector, focusing on stocks such as Sembcorp Industries, Seatrium Limited, and Yangzijiang Shipbuilding (Holdings).