0131 GMT - APAC Realty has the potential to double earnings over 2024-2026 as Singapore's property market transaction volumes recover, DBS Group Research analysts say in a research report. DBS expects a strong rebound in the real estate agency's overall volumes this year on the back of new sales reaching roughly 8,000-8,500 units annually. This recovery will likely stem from drivers such as homeowners, upgraders, and permanent residents buying homes for own-stay, the analysts say. Its valuations are attractive at less than 11X price-to-earnings ratio and dividend yields close to around 8%-11%. DBS raises the stock's rating to buy from hold and the target price to S$0.50 from S$0.48. Shares last quoted at S$0.395. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 07, 2025 20:31 ET (01:31 GMT)
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