[ET Net News Agency, 2 December 2019] DBS Group Research raised its target price for
Far East Consortium (FEC)(00035) to HK$4.68 from HK$4.08 and maintained its "buy" rating.
The research house said FEC's 1H FY2020 underlying earnings were ahead of DBS's estimate
due to stronger-than-expected growth in development earnings. Interim DPS was flat at
HK$0.04.
As of September, the company had contracted pre-sales of HK$11.6bn, which will be
recognised between 2H FY2020 and FY2025. This points to good development earnings
visibility, DBS noted. (KL)