Parkway Holdings

UBS Reiterates Buy call on Parkway Holdings with a new TP of $4.00 despite the stock's recent out-performance and rich ex-property valuations; cites higher ASP assumptions of its Novena mediacl suites (sold 150 out of 259 units). Increased stake by Fortis Healcare from 23.9% to 25.2% is viewed as a strong vote of confidence by the new shareholders, which could drive synergistic benefits going forward.