| CGS CIMB |
UOB KAYHIAN |
|
Keppel REIT Partially unlocking value in OFC
■ KREIT is selling a 20% stake in OFC for S$537.3m. ■ Sale to lift book NAV; use of proceeds includes paring down debt. ■ Maintain Add with TP of S$1.34.
|
CapitaLand (CAPL SP) Extending Its Wings
We update our model to incorporate the latest data points on Jewel Changi, overseas acquisitions and earlier recognition of China residential sales. New acquisitions include the 16 US multi-family properties, as well as an effective stake of 20.85% in Shanghai’s tallest twin towers. We maintain BUY with a raised target price of S$4.40, pegged to a 20% discount to our revised RNAV.
|
|
|
|
|
|
Check out our compilation of Target Prices