Tai Fook maintains its buy rating of 0292.HK, with a target price of HK $0.088.

Dafu said the downside risk for Oceanwide was limited because the stock was currently valued at an 80 per cent discount to the bank's estimated net asset value. Given the improved outlook for local tourism, supported by an increase in business or leisure tourists from the mainland, the bank believes the downside risk for the stock is limited. Dafu added that even at the 60 per cent discount, the stock should still be priced at HK $0.088, meaning there is plenty of room for the current share price to rise.

The stock rose 7.14 per cent to HK $0.045 yesterday.