SINGAPORE (Nov 10): DBS says Hongkong Land, trading at 38% discount to its assessed current NAV, is inexpensive from a historical perspective.

In addition, tight vacancy and solid demand continues to support office rents which, coupled with yield compression, have boosted office prices further.

“These factors should warrant a higher stock valuation for Hongkong Land,” says analyst Jeff Yau, who is calling a “buy” with US$8.93 (S$12.15), based on 30% discount to DBS’ June 2018 NAV estimates... (Click here to read the full story.)