UOA earnings estimate revised

Business Times

KUALA LUMPUR: UOA Development Bhd's earnings estimate for the financial year 2013 has been revised by eight per cent by RHB Research after it managed to sell an office block in Bangsar for RM72.5 million.

However, RHB Research sees the sector as still lacking in positive development and maintained its "neutral" rating on UOA for now.

MIDF Research also maintained its "neutral" stand on UOA with an unchanged target price of RM2.08.

It said it believes that sentiment towards property stocks is still fragile and valuationhas yet to stabilise.

MIDF Research said it is also maintaining its earnings forecast for the company in the financial year 2014 as the gain made from the sale of the property is a one-off one.

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