0456 GMT - APAC Realty is set for strong sales, but its stock is overvalued, says RHB analyst Vijay Natarajan. The analyst expects the company to post 30%-40% primary residential sales growth in 2025. Its overseas operations are also projected to turn profitable by year-end. APAC Realty's shares have surged 129% year-to-date as strong primary residential sales more than doubled its 1H net profit. That's put the stock ahead of fundamentals, and Natarajan expects earnings to decline slightly in 2026 as volumes normalize. RHB raises net profit forecasts for 2025-2027 by 39%, 25%, and 28% respectively to reflect a solid margin and sales outlook, but downgrades the stock to neutral from buy. It lifts the target price to S$0.80 from S$0.54. Shares last S$0.90.(jason.chau@wsj.com)
(END) Dow Jones Newswires
September 16, 2025 00:56 ET (04:56 GMT)
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