OUE: Deep value, Deutsche reiterate Buy
-risk of QC charges on its Twin Peak project is diminishing
-house noted that more than 120 units were sold since it rolled-out discounts back in Apr
-only around 15 units remain unsold in the first tower
-for 2nd tower, OUE maintains plans to divest units via en-bloc sale before QC charges kick in
-upcoming completion/TOP of OUE downtown by Dec '16 may also narrow OUE's discount to RNAV
-currently trading at 55% discount to RNAV
-Deutsche opines that valuation is attractive and maintains but, but with a lower TP of $2.10 from $2.35
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