Deutsche Markets Research has upgraded Wing Tai Holdings to "buy", with a target price of $1.90.
This comes as the research house calls the stock a "strong value proposition" in a report dated Monday.
The re-rating follows Wing Tai's sale of its 50% stake in Nouvel 18 to property developer City
Developments for $411 million last week with an implied price of $2,619psf. This represents a 16.4% upside from the
research house's assumed clearing price of $2,250psf.
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