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Any comments here? Look like downtrending lei
Property-related seem primed to "cheong" soon... :)... it seems...
looks like a good buy for 1.26 :)
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| SINGAPORE (XFN-ASIA) - CIMB-GK has upgraded its rating for Ho Bee Investment
Ltd to "outperform" from "neutral" because of improved earnings visibility beyond 2008 from its recent acquisitions of Waterfront Collection site, Holland Hill Mansions and three new industrial properties. It also raised its target price for the stock to 1.50 sgd from 1.32 to reflect higher revised net asset value from the acquisitions. "We believe Ho Bee is a prime candidate to gain from both the surging residential property prices in integrated resort-related District 4 and the impending catch-up of traditional prime locations, such as District 10," CIMB-GK said in a note. At 12.03 pm, Ho Bee was up 0.02 sgd or 1.59 pct at 1.28 on volume of 2.08 mln shares. (1 usd = 1.54 sgd) lynette.khoo@xfn.com | ||||||||
I'm monitoring this closely.
when is the company financial report?
waiting for the good news as it should report good profits
I will wait for another trading day or so for this counter for trend to re-affirm.
May want to put in a trade for this one. Uptrend signs are there but not so strong yet.
May want to put in a trade for this one. Uptrend signs are there but not so strong yet.
Singapore's Ho Bee fair value raised to 1.52 sgd -Phillip Securities
Ho Bee is looking good in terms of TA.
Not Vested.
Not Vested.
I've always liked Ho Bee since it was doing 1.06/1.07. But I was focussing on other counters, so did not get on board. Great counter!
Having clinched the land parcel at Sentosa again, Ho Bee should be heading higher. Target $1.49 - $1.52
Looks like another 'buy high, sell higer' candidate.
join in again recently from the dip
Sias has increased its target price to $1.40 from $1.05.
Now it's even higher.
DBS says it has increased its price target to $1.36 from $1.16 because the firm is expected to benefit from the rising prices of luxury homes.
"As luxury home prices continue to rise, we expect Ho Bee to be a prime beneficiary, as all of its unlaunched land bank is targeted at the high-end residential segment," DBSV analyst Zy Sew Ho said in a note to clients.
Ho Bee has bought one site in the vicinity of Orange Grove here for 153 mln sgd and another at nearby Fernhill Grove for $7m which, DBSV said, could be used to exploit demand in the high end of the residential market.
The brokerage said Ho Bee had recently put on the market apartments in its The Coast condominium for $1,500-1,600 per square foot and that it expected the take-up rate there to allow the firm to raise prices further.
DBSV has also raised its assumption of the price that space in Ho Bee's Suntec Tower will command to $1,500 per square foot from $1,050, in view of rising rents for offices.
I dare not go in and buy time and again because the price has already gone up. However, when the target price is reached, analyst will revise the target higher . When the higher target is reached, they will revised it even higher.... Sigh.....
Nostradamus - This counter is almost at the price of 1.21. Is it still a good buy considering Price Traget reached?
CIMB-GK has raised its target price $1.24 from $1.01, citing strong demand that has been driving up the average selling price for its high-end residential projects.
"We continue to like Ho Bee for its pure exposure to the domestic prime residential segment," CIMB-GK analyst Sai Min Chow said in a note. "Potential catalysts include further price appreciation and participation in the South Cove projects," Sai said.
CIMB-GK raised its average selling price assumptions for Ho Bee's existing projects and those still in the pipeline by 6-15%, given the positive sentiment in the luxury residential property segment.
"Despite the strong run-up in prices, prime district property prices here are still a fraction of those in regional markets such as Hong Kong, thus providing room for further upside," said Sai.
CIMB-GK, which rates Ho Bee an "outperform", expects the property developer to more than double its net profit to $79m this year from last year's $38.1m. Next year, it expects Ho Bee to post $143.9m in net profit, and grow it further to $172.1m in 2008.
It was higher after The Business Times reported that it had sold some of the apartments in a condominium here for almost double the price they commanded when they were first put up for sale, dealers said.
The newspaper reported that Ho Bee had sold the 90 apartments in the 249-unit The Coast condominium at Sentosa Cove for an average price of $1,500 sgd per square foot. The newspaper said this was almost double the price of $785 per square foot that apartments there sold for when Ho Bee first put them on the market about two years ago.
Ho Bee plans to gradually raise prices there, and the price per square foot may hit $2,000 in the next 12-18 months, the newspaper said.
Westcomb said it has initiated coverage on with a "buy" rating and a target price of $1.30.
In a note to clients, Westcomb said Ho Bee's prospects were bright given its reputation as a luxury home developer on Sentosa, which will help facilitate sales of its future launches in the high-end and mid-tier residential segments.
"We are of the view that there is further capital upside, of about 10 pct to 15%, in the high-end and mid-tier home markets over the next 12 months, " it said.
Westcomb also said Ho Bee, currently the largest luxury home developer at Sentosa Cove, is a recommended play because it believes land surrounding the Sentosa integrated resort will appreciate in value, regardless of who wins the bid for the project.
"With land acquisition plans in the pipeline that will further enhance RNAV, and as the beneficiary of higher land values, regardless of the winning bidder for the Sentosa resort project, we are expecting a re-rating of Ho Bee shares," it said.
Westcomb expects Ho Bee's net profit growing to $73.73m this year from $38.07m last year, further rising to $154.02m next year.