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Revisions

Cityneon started at ‘buy’ by DBS with $1.03 target

Broker's Calls

Cityneon started at ‘buy’ by DBS with $1.03 target

Jude Chan Published on Mon, May 30, 2016 / 3:14 PM GMT+8

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SINGAPORE (May 30): DBS Vickers Securities on Friday initiated coverage on Cityneon Holdings with a “buy” recommendation and target price of $1.03.

With the acquisition of Victory Hill Exhibitions (VHE) in September 2015, exhibitions specialist Cityneon currently holds exclusive intellectual property (IP) rights to Marvel’s Avengers and HASBRO’s Transformers.

DBS analyst Ling Lee Keng believes the potential for Cityneon to secure a third IP will act as a catalyst for the stock.

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