Oct. 28 (Bloomberg) -- Robinsons Land Corp. advanced to a five-week high in Manila trading after Alex Pomento, analyst at Macquarie Group Ltd., raised his valuation and earnings estimates for the Philippine builder.
The stock rose as much as 2.5 percent to 12.48 pesos and traded at 2.46 pesos at 10:23 a.m. local time, heading for the highest close since Sept. 19. The benchmark Philippine Stock Exchange Index rose 1.6 percent.
Macquarie raised its net-asset-value estimate for Robinsons by 21 percent and increased its 2012 earnings-per-share forecast 7 percent on growing profits from residential projects and malls, Pomento wrote in a note released today.
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