0641 GMT - PropNex stands to benefit from its scalable and asset-light business model, OCBC Investment Research analyst Donavan Tan says in a research report. The business model fosters a feedback loop within the real-estate agency's sizable sales force, enabling it to leverage technology for real-time property transaction data storage, analysis and retrieval, the analyst says. The Singapore-listed company operates a highly cash-generative business that letsit deliver returns to investors via high dividend payouts, the analyst adds. OCBC initiates coverage of the stock with a buy rating and a fair value estimate of S$0.910. Shares are 0.6% higher at S$0.790. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
October 22, 2024 02:41 ET (06:41 GMT)
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