Brokers' take

Wing Tai Holdings | Buy

April 7 close: S$2.04

Target price: S$2.22

DBS Group Research, April 7

We continue to see value in Wing Tai at 0.54 times price to book NAV and 0.6 times price to revised net asset value (RNAV) but remain cautious after its eye-catching share price rally.

We wonder if the stock is rising for the right reasons.

We believe that the rumoured de-listing of the company will not happen as:

a) The high cost of delisting deters owners.

b) De-listing to avoid QC charges for Nouvel 18 is not a straightforward route. It will first have to enter into a transaction with City Developments to buy/sell the 50…