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Will long at 0.85
When Ang Mio make this news available to the public, that means they are covering their Short. Buy.
JPM just issued a downgrade report this evening cutting TP from $1.20 to $0.85 and from neutral to underweight. They expect 8% p.a. decline in DPU over the next 2 years and that the current capital top-ups are not sustainable even if they utilise their debt headroom of $657m and push their gearing to 40% from 34% currently.
This did not age well. Now its 0.935 and going lower. Will be even lower once Trump begins his trade wars
angmohlin ( Date: 19-Nov-2024 14:48) Posted:
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Frasers L& C have reached the Fibo 88.6% the last defense level of $0.95 twice, it seems likely to rebound from here. Please DYODD.