Stock Name: UOADEV
Company Name: UOA DEVELOPMENT BERHAD
Company Name: UOA DEVELOPMENT BERHAD
| Research House: CIMB | Price Call: TRADING BUY | Target Price: 1.84 |
Target RM1.84
Our visit and showroom tour with several investors reaffirmed our positive view on UOA Dev. Its 1Q new sales of over RM300m put the company firmly on the path to meet, if not exceed, its full-year target of RM1bn. Due to the depressed share price, UOA Dev's valuations are among the cheapest in our property coverage. Its P/Es are the lowest while its dividend yields are the highest. We maintain our Trading Buy call and target basis of 30% discount to RNAV.
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