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UOL rises 6.7% after JPMorgan target price upgrade

UOL rises 6.7% after JPMorgan target price upgrade

By Swedan Margen

Fashion

Shares of UOL Group climbed on Tuesday (Jan 27) morning after JPMorgan raised its target price for the property developer on the back of strong tailwinds.

The stock jumped as much as 6.7 per cent in early trade to S$11.04 as at 9.04 am, with 247,900 shares changing hands. By 9.22 am, it eased to S$10.94, but was still up by 5.7 per cent or S$0.59, with some 519,100 shares transacted.

JPMorgan on Monday lifted its target price for UOL to S$12.05, a 16.4 per cent increase from the counter’s latest closing price of S$10.35 that day. This marks an increase from JPMorgan’s previous target price for UOL of S$10.15.

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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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