Brokers' take

UOL Group | Outperform (Initiate) June 5 close: S$7.26 Target price: S$9.00 Credit Suisse Equity Research, June 5

With valuation at an attractive 0.69 time price to book, steady earnings growth from recognition of locked-in residential sales and its recurring income base, and control over United Industrial Corporation (UIC) a key catalyst, UOL is our preferred play on the continued recovery in Singapore's residential market.

We believe the recovery in the Singapore residential market is at its nascent stage, and we remain positive on the sector outlook.